Answer to Question #86016 in Microeconomics for Zeina elbarky

Question

Is there any common denominator that we can use to study the market such as market for wheat, market for public utilities, market for jewelry, and market for crude oil?

Answer 1

The availability of the common denominator that we can use to study the market such as market for wheat, market for public utilities, market for jewelry, and market for crude oil depends on the structure of that markets, the market power of the producers and other properties of that makets. So, there is no universal common denominator.