Description of this paper

Perfect competition is the first of four basic market

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Question

Perfect competition is the first of four basic market models that we study in this course.;Choose a market for a good in your area that seems to be a perfectly competitive market. Write four or five substantive paragraphs that describes the market and answers the following questions;?Identify the buyers and sellers as well as the goods or services.;?How closely do real world conditions match the characteristics listed in the model?;?Are the sellers price takers?;?Do they compete using price?;?Is the good in question standardized?;?Is this market regulated by government in any way;?Explain the competitive environment.

 

Paper#24653 | Written in 18-Jul-2015

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