Question

In: Economics

Give an example of a perfectly competitive market (or one that closely approximates one). Explain why...

Give an example of a perfectly competitive market (or one that closely approximates one). Explain why you believe this market is competitive. If you can’t think of such a market, explain why it is difficult to find a perfectly competitive market. Be specific.

Solutions

Expert Solution

We can select a number of markets that have close proximity to perfect competition including stock markets, agricultural markets etc. The details are provided below.

Rahul Sunny answered 2 years ago
Next > < Previous

Related Solutions

Give an example of a perfectly competitive market (or one that closely approximates one) except those...
Give an example of a perfectly competitive market (or one that closely approximates one) except those given in chapter 5. Explain why you believe this market is competitive. If you can’t think of such a market, explain why it is difficult to find a perfectly competitive market. Be specific. Give an example of a market that is not currently perfectly competitive but could become one, or at least more competitive, under certain possible circumstances. What are those circumstances and how...
List the characteristics of a perfectly competitive market. Give an example. Why do firms in perfectly...
List the characteristics of a perfectly competitive market. Give an example. Why do firms in perfectly competitive markets have no control over the price of their products?
Give one example of a perfectly competitive team and one example of a monopoly team. Explain.
Give one example of a perfectly competitive team and one example of a monopoly team. Explain.
Which one of the five generic competitive strategies most closely approximates the competitive approach that Malibu...
Which one of the five generic competitive strategies most closely approximates the competitive approach that Malibu is employing? Explain your answer.
Which of the following best approximates a perfectly competitive market structure? a. automobile manufacturing b. the...
Which of the following best approximates a perfectly competitive market structure? a. automobile manufacturing b. the insurance market c. the airlines industry d.stereo equipment e.foreign exchange markets
Explain why a perfectly competitive market maximizes social welfare.
Explain why a perfectly competitive market maximizes social welfare.
1) Please give an example of a market that comes close to being considered perfectly competitive....
1) Please give an example of a market that comes close to being considered perfectly competitive. 2) What does it mean when firms in a perfectly competitive market earn $0 in economic profits? write at least one paragraph on these questions
1) Please give an example of a market that comes close to being considered perfectly competitive....
1) Please give an example of a market that comes close to being considered perfectly competitive. 2) What does it mean when firms in a perfectly competitive market earn $0 in economic profits? Write at least one paragraph on these questions
Is the gas market a perfectly competitive market? Why or Why not? What is the cause...
Is the gas market a perfectly competitive market? Why or Why not? What is the cause of these high prices? Are oil companies to blame? Is the government to blame? Should we enact price controls on the market? What can we do to combat the high prices
Explain in your own words, the characteristics of a perfectly competitive market. For each characteristic, give...
Explain in your own words, the characteristics of a perfectly competitive market. For each characteristic, give an example of a firm or industry that would exhibit that trait. Keep in mind that no one firm can hold every characteristic.
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT