A decrease in competition with in an industry can result in?

A decrease in competition within an industry can lead to higher prices for consumers, as companies may have less incentive to keep prices low without the pressure of rivals. It can also result in reduced innovation, as firms may become complacent without the need to differentiate themselves. Additionally, decreased competition can lead to poorer customer service and product quality, as companies may not feel compelled to meet consumer demands. Overall, the lack of competition can hinder market efficiency and consumer choice.