Answer :
Federal and local rules do not prevent established businesses from taking other legal action, such as laws dramatically decreasing prices to new competition.The Correct answer is b. incumbent firms spend more to satisfy customers.
The most important body of both codified and uncodified legislation in the United States is the Constitution, which outlines the structure of the federal government as well as a variety of civil when a new firm enters an industry liberties.Antitrust laws are made by governments to protect consumers from dishonest business practises and to advance fair competition. Antitrust laws apply to a wide range of questionable business practises, including market division, bid rigging, predatory pricing, and monopolies.
Complete question:
when a new firm enters an industry, which of the following often occur? multiple select question.
a. incumbent firms raise prices.
b. incumbent firms spend more to satisfy customers. c. industry profit potential declines. incumbent firms lower prices.
d. incumbent firms increase their market share.
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