what is an example of a price competition 
consider the way that a consumer might shop for fruits and vegetables they may browse produce sectinos at grocery stores farmer s markets superstores and discount retailers across their city because there are many firms that sell produce there will be some that set lower prices than others to entice shoppers this is a form of price competition who has market power in a competitive market in a non competitive market such as in a monopoly a single producer or multiple producers may hold disproportional power allowing them to set prices as they wish in a competitive market the opposite is true buyers have power and can respond to pricing changes by taking their business where they please 