bigdreamer1215
bigdreamer1215 bigdreamer1215
  • 30-12-2018
  • Social Studies
contestada

How does competition affect producers and consumers

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mrsedlack
mrsedlack mrsedlack
  • 31-12-2018

The general consensus is that competition between producers lowers the prices for consumers as the producers compete for the business of the consumers and lower the price to stay competitive. Conversely, competition between consumers leads to increased prices set by producers as they can get a higher price out of consumers who are competing over a product.

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