This year, nine national retail big box technology companies started and opened many retail stores across the nation. Now there are many more big box retail tech companies in the market. With many more competitors, what will likely happen to the supply of goods for customers

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26-07-2022
Business

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This year, nine national retail big box technology companies started and opened many retail stores across the nation. Now there are many more big box retail tech companies in the market. With many more competitors, what will likely happen to the supply of goods for customers

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ogorwyne ogorwyne · Answer 1 · 2022-08-09T16:46:13+02:00

Given that there are many competitors now in the market, what is going to happen is that The supply of goods will increase and cause a decreases in the price of goods.

What is meant by the supply of goods?

This is the term that is used to refer to the availability of goods in the market for the consumers to obtain. The supply of goods may affect the prices of goods and services in the market in several ways.

When there are many competitors supplying goods, this would tell us that the goods would be much in the market. This would prevent a single firm from controlling the market. In turn, the price of the goods would then be cheaper for consumers.

Read more on supply and demand here: https://brainly.com/question/4804206

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