What are three possible long-term consequences of two species occupying the same niche?

According to the principle of competitive exclusion, no two species can live in the same niche for a very long time and stably coexist. This is because species with similar niches tend to have similar needs, thus, competition for the same resources. We can talk about a niche to include descriptions such as the habitat, the organism’s life history, and place in the food chain. As a result, one among the two species can adapt and occupy a similar niche, migrate to a less competitive area, or get eliminated and die. One species will end up being more successful than the other. Sometimes, when the competition is not severe enough, one between the two species may evolve to have slightly different niche.