Identify whether or not each of the following scenarios describes a competitive market, along with the correct explanation of why or why not.
two taxi companies serve most of the market in a big city. consumers don't care which taxi company they take—if they decide it's worth taking a taxi, they flag down the nearest one.
the government has granted a patent to a pharmaceutical company for an experimental aids drug. that company is the only firm permitted to sell the drug.
there are hundreds of colleges that serve millions of students each year. the colleges vary by location, size, and educational quality, which allows students with diverse preferences to find schools that match their needs.
there are hundreds of high school students in need of algebra tutoring services in denver. dozens of companies offer tutoring services, and the parents who seek out tutors view the quality of the tutoring at the different companies to be largely the same.

Jordan, inc. sells fireworks. the company’s marketing director developed the following cost of goods sold budget for april, may, june, and july. april may june july budgeted cost of goods sold $62,000 $72,000 $82,000 $88,000 jordan had a beginning inventory balance of $3,000 on april 1 and a beginning balance in accounts payable of $14,600. the company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. jordan makes all purchases on account. the company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. required prepare an inventory purchases budget for april, may, and june. determine the amount of ending inventory jordan will report on the end-of-quarter pro forma balance sheet. prepare a schedule of cash payments for inventory for april, may, and june. determine the balance in accounts payable jordan will report on the end-of-quarter pro forma balance sheet.