Posted: September 16th, 2022
Select any firm or product. You may NOT use the product you were assigned for the discussion on perfect competition
Select any firm or product. You may NOT use the product you were assigned for the discussion on perfect competition.
Use two characteristics of a firm (number of sellers, type of product, and barriers or ease of entry) to classify if this firm or product is perfect competition, monopoly, monopolistic competition, or oligopoly.
Then post a response to another post providing the third characteristic of that product, or provide justification using a characteristic on why that firm/product may be a different market structure.
Choose a product that you use everyday.
Think about the product and if there are a lot of sellers, many or few substitutes, and if it would be easy to start up a new firm to compete with that product.
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