GAF - Global Agibusiness Forum

GAF Academy

How are consumer choices affected by firm competition?

This chapter discusses how competition between firms affects the set of choices that are available to consumers. What do I mean by consumer choices? Throughout this chapter that will be a synonym for the range of different products or “variety” available for purchase. An increase in “product variety” can occur in, at least, two different ways: (a) the existing firms increase the number of different items that they sell or (b) new firms emerge bringing with them a new set of products. I will discuss examples of both.

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