Question: Perfect competition Write a post that describes a real world example of a perfectly competitive market. Be specific about the good or service you are

Perfect competition

Write a post that describes a real world example of a perfectly competitive market.

  • Be specific about the good or service you are describing.
  • What makes this market perfectly competitive (use your textbook definition)?
  • Describe the firms who operate in this market. That is who are the competitors?
  • Are there any companies in this industry that can charge a price slightly above the competition?
  • Explain why you would be willing to purchase the good from whoever sells it for the cheapest, without any brand loyalty.

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