How does an increased number of producers affect the prices of goods in a market?

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asked Apr 16, 2016 168k views

1 Answer

Hayden Schiff · Answer 1 · 2016-04-21T21:39:18+0000

if there are many producers, they will compete with each other, and they will try to attrack the buyers with a lower price.

Also there will be a bigger supply for the same demand and again, this would make the prize sink!

How does an increased number of producers affect the prices of goods in a market?

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