Pick a commodity market you know in the real world (can be goods or services. e.g. corn, potato chips, oil, retail, hospitals, etc.) and discuss to which market structure you think this market likely belongs. Describe what you know about how companies/suppliers within this market compete with one another. Note: in practice, we can't really find a true perfect competitive market, but you can still pick a market that is close to perfect competition as an example.

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Lets take the market for agricultural products like corn This market often exhibits characteristics ... View the full answer