1. Choose a market or industry that you think is close to perfectly competitive.

Sep 25th, 2015
DreamIt
Category:
Economics
Price: $50 USD

Question description

Read 4.pdf1. Choose a market or industry that you think is close to perfectly competitive.  Then, explain whether or not your choice meets each of the characteristics shown in Slide #5 of the Attend.  Is the market really perfectly competitive?  Can absolute perfect competition exist in the “real world?”

*Characteristics include a market structure characterized by (1) many buyers and sellers, (2) identical products, (3) and easy market entry and exit.

2. Take a look at the latest annual report for the Tennessee Regulatory Authority at:

http://www.state.tn.us/tra/reports/annualrpts/anlrpt1213.pdf

What types of industries does TRA regulate? Choose a specific company that would fall within one of those industries. Why is this firm (and others within the industry) regulated?

3. Do each of characteristics of monopoly shown on Slide #18 in the Attend section apply to the firm you have chosen in question #2?  Explain why or why not each characteristic would or would not apply to your firm.


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