Question

Consumers benefit when producers work to develop better products that can be sold at lower prices to beat the competition.
true or false?

Answer 1

Answer:

True

Explanation:

This is true

Answer 2

Consumers benefit when producers work to develop better products that can be sold at lower prices to beat the competition - True

Explanation:

• Price of a product/service is ascertained by demand, competition, & product amongst producers. Buyers  generally compete with each other
• Competition determines market price because the more a product is in demand (i.e. competition amongst  buyers), the higher price consumers are  willing pay & more money a producer makes.
• Moreover, the demand of consumers for a product impact price, as well as the relationship amongst the "different producers "of the product.
• Competition amongst sellers generally relates to which competitor has the "best price". This will facilitate in determining the price consumers have to pay. Greater competition/rivalry amongst sellers leads to a lower market price of the product.

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cost of product affect the demand - Brainly.in

https://brainly.in/question/4331789