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6 October, 02:14

How do consumers benefit in a highly competitive market?

es)

A shortage will result.

A surplus will result.

They will pay lower prices for quality goods.

They will pay higher prices for low quality goods.

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  1. 6 October, 02:36
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    They will pay lower prices for quality goods.

    Explanation:

    Competition drives higher quality while also driving prices. Demand increases with a decrease in price and competition will create the higher quality.
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