Explain how self-interest and competition work together to regulate prices.

Self-interest occurs when consumers seeks to buy certain goods or services at the best possible price. Producers, in an effort to make a profit, act on what consumers want. As more producers are drawn into the market competitors will offer lower prices in order to attract more business.

Explanation: Its the sample response

they work together because when a consumer uses self-interest that means that they are looking for teh cheapest price and the best quality. That creates competition in itself because teh compaines then comepte with each other to meet the consumer's method of self-interest and whicever company can get the closest to meeting those standards is the one that will thrive.

Explanation:

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answer; conceptual skills;