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How does more competition lead to lower prices for consumers?

Wilt66

wrote...

Posts: 715

Rep:

6 years ago

How does more competition lead to lower prices for consumers?

How does more competition lead to lower prices for consumers?

What will be an ideal response?

Read 30 times

1 Reply

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Mrgualandi

wrote...

#1

6 years ago

It is axiomatic that more companies in an industry will lead to lower prices in a market than one involving fewer competitors. This is because fewer competitors will be less inclined to reduce price since an implicit understanding of interdependence will be present. With many companies, such discipline is less likely.

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