Not only has scouring the Web for the best possible price become standard protocol before buying a big-ticket item, but more consumers are employing creative strategies for scoring hot deals. Comparison shopping, haggling and swapping discount codes are all becoming mainstream marks of savvy shoppers. Online shoppers can check a comparison service like Price Grabber before making a purchase.

a. Explain the effect of the Internet on the degree of competition in the market.

b. Explain how the Internet influences market efficiency.