Business, 19.10.2020 22:01 kcarstensen59070

Consider the markets for three products below. Indicate which characteristics of a competitive market are met by these markets. Market: gasoline

a. Large number of buyers unanswered
b. Standardized good unanswered
c. Full information unanswered
d. No transaction cost unanswered
e. Participants are price takers unanswered

Market: barbershop haircuts

a. Large number of buyers unanswered
b. Standardized good unanswered
c. Full information unanswered
d. No transaction cost unanswered
e. Participants are price takers unanswered

Market: bicycles

a. Large number of buyers unanswered
b. Standardized good unanswered
c. Full information unanswered
d. No transaction cost unanswered
e. Participants are price takers

Answers: 1

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Consider the markets for three products below. Indicate which characteristics of a competitive marke...

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