question archive Consider the following goods and services
Consider the following goods and services
Subject:EconomicsPrice: Bought3
Consider the following goods and services. Which are the most likely to be produced in a perfectly competitive industry? Which are not? Explain why you made the choices you did, relating your answer to the assumptions of the model of perfect competition.
- Coca-Cola and Pepsi
- Potatoes
- Private physicians in your local community
- Government bonds and corporate stocks
- Taxicabs in Lima, Peru—a city that does not restrict entry or the prices drivers can charge
- Oats
