Please give an example of a market that comes close to being considered perfectly competitive. What does it mean when firms in a perfectly competitive market earn $0 in economic profits? rite at least one brief paragraph. In addition, it is required to reply to at least two other students' posts by of

Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter11: Marketing And Distribution
Section: Chapter Questions
Problem 19AA
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Questions:
1) Please give an example of a market that comes close to being considered perfectly competitive.
2) What does it mean when firms in a perfectly competitive market earn $0 in economic profits?
Write at least one brief paragraph. In addition, it is required to reply to at least two other students' posts by offering respectful suggestions, comments, or
critiques related to the subject matter and their post.
Transcribed Image Text:Questions: 1) Please give an example of a market that comes close to being considered perfectly competitive. 2) What does it mean when firms in a perfectly competitive market earn $0 in economic profits? Write at least one brief paragraph. In addition, it is required to reply to at least two other students' posts by offering respectful suggestions, comments, or critiques related to the subject matter and their post.
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