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Anestetic [448]
3 years ago
5

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

Geography
2 answers:
Advocard [28]3 years ago
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! 
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