The recent mergers in the grocery industry have effectively reduced the number of competitors in California from even changes to three.

The recent mergers in the grocery industry have effectively reduced the number of competitors in California from even changes to three. The remaining chains have said that this would lead to lower costs because of economic of sale. While that might be true, it almost certainly won't lead to lower prices. Why not? Hint: All of these grocery chains put ads in the newspaper every week.