If you are the owner of a firm, do you like competition? No, not when other firms are competing against you, because that competition will cause you to lower your prices and lose profit. But you do want want perfect competition among your suppliers, because that will help keep your costs lower. | If you are the owner of a firm, do you like competition? No, not when other firms are competing against you, because that competition will cause you to lower your prices and lose profit. But you do want want perfect competition among your suppliers, because that will help keep your costs lower. |