As a market moves from a single seller to a competitive one, a product's price _____.

2 answers:

4 0

Price is dependent upon the characteristics of both demand and supply. An equilibrium price is a balance of demand and supply factors. Changes in the equilibrium price occur when either demand or supply, or both, shift or move. In this scenario, as a market moves from a single seller to a competitive one, a product's price decreases. The greater the competition the lower the price of the product, because each company wants to attract customers and lower price is the most influential factor.

Nikitich [7]3 years ago

3 0

The product's price decreases.

I hope that helps!

You might be interested in

These factors hinder environmental protection efforts in Eastern Europe. economic development, enforcement, foreign investment,

taurus [48]

The answers are: Economic development and Lack of reinforcement.

I hope this helps!

Have a nice day!

:)

3 0

3 years ago

Read 2 more answers

A geographer who helps a community with water

Fynjy0 [20]

Answer:

I believe they are called hydrologists.

Explanation:

7 0

3 years ago

The greatest hazard to human life associated with volcanoes is

oksian1 [2.3K]

The ashes and smoke after an eruption

6 0

2 years ago

Which of the following transactions was not part of the triangular trade between Europe, Africa, and the Americas? A. Finished g

kondor19780726 [428]

Answer: D) slaves from the Americas were sold in Africa in exchange for finished goods

Explanation:

4 0

3 years ago

Read 2 more answers

Why does melting occur at divergent plate boundaries

gizmo_the_mogwai [7]

Answer:

Explanation:

As plates move apart at the divergent plate boundary the release of pressure produces partial melting of the underlying mantle. This molten material, known as magma, is basaltic in composition and is buoyant. As a result, it wells up from below and cools close to the surface to generate new crust

5 0

3 years ago