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Zigmanuir [339]
3 years ago
11

Maria wants to buy a computer, but will get it for a better price if she waits. The price will go down when more than one compan

y sells similar computers. Which of the following explains why the price will go down?
Social Studies
1 answer:
kvv77 [185]3 years ago
8 0
The price should go down as with more substitute products in the market, the price elasticity of demand will increase and business will react by getting the lowest price, this is in the future when Maria can buy her computer cheaper
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<h3>Answer: A. competition among producers</h3>

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In contrast, monopolies are bad for consumers because one company can set the price to whatever they want (to a certain level of course) and the customer has no choice to pay that price. The customer does not have any other option so the company is in full control. This leads to decline in quality because quality is often associated with cost. Safety standards may decline as well. So this is why monopolies are not good for the customer. In cases where there are monopolies, such as with power utilities, it is strongly advised that government regulations are put in place. This way the company doesn't completely exploit the customer.

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