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Ipatiy [6.2K]
4 years ago
12

In 1 or 2 sentences, describe the effect of competition on price.

History
2 answers:
serious [3.7K]4 years ago
5 0

The effect of the competition of price shifts the balance between supply and demand. For example, given an equilibrium quantity, when the price is high, this results to a surplus of quantity. Competition on price makes the market productive and the consumers get to choose many options. 
Zepler [3.9K]4 years ago
5 0

Answer:

The effect of the competition of price shifts the balance between supply and demand. For example, given an equilibrium quantity, when the price is high, this results to a surplus of quantity. Competition on price makes the market productive and the consumers get to choose many options.

Explanation:

because i said so

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