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How can a decrease in the number of firms affect the economy

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A decrease in the number of firms can affect the economy in several ways. It can lead to a decrease in competition, which can cause prices to rise and quality to decrease. It can also lead to a decrease in innovation, as fewer firms means fewer resources available for research and development. Additionally, a decrease in the number of firms can lead to a decrease in employment opportunities, which can lead to a decrease in consumer spending and a decrease in economic growth.
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User Quaffel
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A decrease in the number of firms can lead to a decrease in competition and an increase in prices, which can negatively affect the economy.
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User Matt Rohland
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