Answer to Question #5283 in Microeconomics for Debbei Harms

Question

Choose a market for a good in your area that seems to be a perfectly competitive market. Write four or five substantive paragraphs that describes the market and answers the following questions:

Identify the buyers and sellers as well as the goods or services.
How closely do real world conditions match the characteristics listed in the model?
Are the sellers price takers?
Do they compete using price?
Is the good in question standardized?
Is this market regulated by government in any way
Explain the competitive environment.

Answer 1

Dear Debbei Harms

Unfortunately, your question requires a lot of work and cannot be done for free.
Submit it with all requirements as an assignment here and we'll assist you.