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Question: 1. Characteristics of competitive markets The model of compe… Post a question

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14th Edition
DishaKumar answered this
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1. Not Competitive. This is because there are only players in

the market. For the market to be competitive,
there has to be many
sellers of the product in the market. Thus, the market is not
competitive.

2. Not Competitive. Since, the product is not identical, thus

the market is monopolistically competitive and
not perfectly
competitive.

3. This market satisfies all the conditions of a perfectly

competitive market.

4. Not Competitive. This is a case of monopoly.

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Comments

Anonymous posted 3 years ago

The above translates to these answers:

1. No, not many sellers
2. No, not an identical product
3. Yes, meets
all assumptions
4. No, no free entry

Anonymous posted 2 years ago

In a major metropolitan area, one chain of coffee shops has gained a large market share because customers
feel its coffee tastes better than that of its competitors.
> No not an identical product

Anonymous posted 8 months ago

thanks

Anonymous posted 7 months ago

Thank you!
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