Classify the following markets as perfectly competitive, monopolistic, or monopolistically competitive, and explain your answers. a. Wooden

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Classify the following markets as perfectly competitive, monopolistic, or monopolistically competitive, and explain your answers.
a. Wooden no. 2 pencils
b. Copper
c. Local telephone service
d. Peanut butter
e. Lipstick

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Principles of economics

ISBN: 978-0538453042

6th Edition

Authors: N. Gregory Mankiw

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Question Posted: Dec 14, 2012 07:01 AM

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Classify the following markets as perfectly competitive, monopolistic, or monopolistically competitive, and explain your answers. a. Wooden

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a The market for wooden 2 pencils is perfectly competitive because pencils ...View the full answer

Principles of economics

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