Are predictions using the supply-and-demand model likely to be reliable in each of the following markets? Why

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Are predictions using the supply-and-demand model likely to be reliable in each of the following markets? Why or why not?
a. Apples
b. Convenience stores
c. Electronic games (a market dominated by three firms)
d. Used cars

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Microeconomics Theory and Applications with Calculus

ISBN: 978-0133019933

3rd edition

Authors: Jeffrey M. Perloff

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Question Posted: Dec 29, 2017 12:43 AM

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Are predictions using the supply-and-demand model likely to be reliable in each of the following markets? Why

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The supplyanddemand model is useful for making predictions in perfectly competitive markets That is ...View the full answer

Microeconomics Theory and Applications with Calculus

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