Standard Power is a new company in the electrical industry, and with the company's success, it is building a strong reputation. What impact will this company most likely have on the other companies in the electrical industry?
A)Prices and profits will increase.
B)Competition will decrease.
C)Competition will increase and prices and profits will decrease.
D)Competition will decrease and prices and profits will increase.
E)The new company will not have an impact on the other companies.

Question

Quizplus · Accepted Answer

The entry of a new company like Standard Power into the electrical industry will likely increase competition, which can lead to decreased prices and profits for existing companies as they strive to maintain their market share.

Standard Power Is a New Company in the Electrical Industry