Long distance telephone service has become a competitive market.The average cost per call is $0.05 a minute,and it's declining.The likely reason for the declining price for long distance service is:

Question

Quizplus · Accepted Answer

Entry into the long distance telephone service industry increases competition, which leads to lower prices for consumers. As more companies enter the industry, they will try to offer lower prices and better services to attract customers, causing a decline in the average cost per call. Therefore, the likely reason for declining prices for long distance service is the entry of new players in the market.

Long Distance Telephone Service Has Become a Competitive Market