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defon
3 years ago
12

Use the drop-down menu to complete the sentence. Increased competition between producers of a good may lead to

History
1 answer:
enyata [817]3 years ago
6 0

Increased competition between produces of a good may lead to positive effects for the consumer.

When businesses are competiting against each other, it often results in the creation of lower prices for consumers. For example, if Company A charges $500 for a cell phone and Company B charges $350 for an extremely similar phone, many people will buy their phone from Company B. In order to compete, Company A must drop their prices.

This competition over consumers benefits the customers, as they get lower prices in comparison to a market where one company has a monopoly.

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