The argument of Adam Smith was that if there was competition, it would allow prices to be kept C. Low.
Who was Adam Smith?
He was a leading economist in his day and has been credited with coming up with the Absolute Advantage theory.
He supported competition in the market because he claimed that more suppliers would equal a lower price as they competed for customers.
Find out more on Adam Smith at https://brainly.com/question/50.
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