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 electricity service

d. Peanut butter

e. Lipstick

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Principles of Microeconomics

ISBN: 978-1305971493

8th edition

Authors: N. Gregory Mankiw

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Question Posted: Jan 08, 2019 12:47 PM

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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 Microeconomics

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