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Perfect competition is the first of four basic market models

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Details;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.;Date Due: Saturday, Jan 22, 2011 by 6:00pm(EST);Objective: Delineate various forms of competition, Identify government policies on competition

 

Paper#30685 | Written in 18-Jul-2015

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