Question: As we begin to study different market structures, consider a market that is fiercely competitive. 1)List the industry. 2)What are the pros and cons of

As we begin to study different market structures, consider a market that is fiercely competitive.

1)List the industry.

2)What are the pros and cons of competition?

3)Is competition in this industry a good thing? Why or why not?

4)Would you say this is a purely competitive industry? Explain.

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