Question

How does competition in the market benefit the consumer

Answer 1

Competitive pricing.
As competition on a market increases firms battle for the lowest prices in order to attract more customers therefore consumers can benefit for high quality products for lower prices.

Answer 2

Competition in market is about price, selection, and service. it benefits consumers by keeping prices low and the quality and choice of goods and services high. Competition makes our economy work. By enforcing antitrust laws, the Federal trade Commission helps to ensure that our markets are open and free.

Step-by-step explanation: