Question

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

Answer 1

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.

Answer 2

The product's price decreases.

I hope that helps!