Pick a specific market for a good or service. Examine that market and determine where that...
Pick a specific market for a good or service. Examine that market and determine where that market lies on the spectrum of competition (perfectly competitive - monopoly, and everything in between). Provide the assumptions you use to make that determination. Discuss who the firms are in that market (if possible).
Homework Answers
Let my good be onions.
It can be mentioned that the market for onions can be considered as perfectly competitive market because there are no barriers to entry and the price is always constant among the various sellers with the product is homogeneous and also the refugee number of sellers options that used to make the determination is that the quality of onions is same and the people are not biased towards particular seller And however it is not possible to discuss the companies in that spectrum because there are hundreds of sellers in the market.
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Pick a specific market for a good or service. Examine that
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