Why the high level of competition in oil refining industry

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Reference no: EM131242439

Briefly explain why the high level of competition in the oil refining industry is good for consumers but bad for the shareholders who own these firms.

As competition increases,

A. variety for consumers will increase and marginal costs for shareholders will decrease.

B. variety for consumers will decrease and consumer demand for shareholders will decrease.

C. price for consumers will decrease and profits for shareholders will decrease.

D. price for consumers will decrease and excess capacity for shareholders will decrease.

E. price for consumers will increase and profits for shareholders will decrease.

Reference no: EM131242439

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