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26 December, 10:11

Compare transnet with a perfect competitor in terms of price and output and profit

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  1. 26 December, 12:22
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    Transnet SOC Ltd is a rail, port, and pipeline company in Johannesburg.

    Price: This company is a price maker, therefore, in terms of price, Transnet perfect compitetor is a price taker.

    Output: Transnet has the ability to decide the quantity of their output and they have many competitors on this one.

    Profit: Transnet might be able to increase their profit but in a competition it would be hard because customers might switch to the competitor.
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