Circuit City Closing

One of the biggest competitors of Circuit City is Best Buy. Best Buy would naturally love to see Circuit City close its doors because that means less competition in the market for them; however, what it means for the rest of us is higher prices. By running another store out of business they can become one step closer to becoming a monopoly. Granted there are still many opportunities out there to get cheaper electronic equipment, but if Best Buy were to eventually gain an advantage there would no longer be a need for competitive pricing and the consumer would have to start paying big bucks to get his hands on technology. This is bad for the economy because people aren't going to be willing to pay the higher prices, causing further shut downs since cost is outweighing revenue. More and more people will then start to lose their jobs as the companies crumble causing our bad economic times to get even worse.