In your first posted comment, consider one or more of the following issues: Identify and...

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In your first posted comment, consider one or more of the following issues: • Identify and explain the characteristics of the "perfectly competition" market structure. • Are agricultural markets "perfectly competitive"? Why or why not? (Consider the following agricultural markets: wheat, corn, soybean, truck faming, and flowers.) • Are these firms price takers? How do these firms make decisions about "pricing" and "production levels"? • Generate additional examples of "perfectly competitive" markets and explain. Make sure you explain! In your second posted comment, consider one or more of the following issues: • Identify and explain the characteristics of the "monopoly" market structure. • Provide some examples of markets that are "monopolies." • Are these monopoly-identified markets "natural monopolies" or monopolies for some other reason? Describe and explain. • How do these monopoly firms make decisions about "pricing" and "production levels"? In your first posted comment, consider one or more of the following issues: • Identify and explain the characteristics of the "perfectly competition" market structure. • Are agricultural markets "perfectly competitive"? Why or why not? (Consider the following agricultural markets: wheat, corn, soybean, truck faming, and flowers.) • Are these firms price takers? How do these firms make decisions about "pricing" and "production levels"? • Generate additional examples of "perfectly competitive" markets and explain. Make sure you explain! In your second posted comment, consider one or more of the following issues: • Identify and explain the characteristics of the "monopoly" market structure. • Provide some examples of markets that are "monopolies." • Are these monopoly-identified markets "natural monopolies" or monopolies for some other reason? Describe and explain. • How do these monopoly firms make decisions about "pricing" and "production levels"?

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CHARACTERISTICS OF A PERFECT COMPETITION MARKET The three primary characteristics of perfect competi... View the full answer