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Question: Consider the following products. Decide whether each one meets the conditions of perfect competition-state that it does or does not. Try, as much as possible, to answer these questions related to this good:Do buyers and sellers have good information about the prices being charged in the market? Is the product standardized? Are there many buyers and sellers? You can base your answers on your own knowledge and experience (common knowledge).

a. Apples in the grocery store.

b. Plane tickets from New York to Seattle.

c. Insurance for your car.

d. Video games.

e. Cable television service for your home

f. Tickets to a professional football game.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M93121121

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