The Bureau of Labor Statistics and Federal Reserve Bank in St. Louis both have a lot of economic information. Based on current economic information for an industry you are familiar with, discuss the effects of either a sudden increase or decrease in the number of competitors on prices in the long run. Be sure to address the scenario from the vantage points of both buyers and suppliers.
What would you recommend as a course of action, if any?
For the industry you have chosen, discuss how price is likely to move from the present into the future.