Which of the following are perfectly competitive markets? Market Tomato Growing Coffee vendor Manufacturing computers Constructing new homes Perfectly Competitive? Yes Yes No Yes Number of Firms Few Many Few Many Type of Product Identical or Differentiated Identical Differentiated Identical Ease of Entry High High Low High

Which of the following are perfectly competitive markets? Market Tomato Growing Coffee vendor Manufacturing computers Constructing new homes Perfectly Competitive? Yes Yes No Yes Number of Firms Few Many Few Many Type of Product Identical or Differentiated Identical Differentiated Identical Ease of Entry High High Low High

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Which of the following are perfectly competitive markets?
Market
Tomato Growing
Coffee vendor
Manufacturing computers
Constructing new homes
Perfectly
Competitive?
Yes
Yes
No
Yes
Number of
Firms
Few
Many
Few
Many
Type of Product
Identical or Differentiated
Identical
Differentiated
Identical
Ease of Entry
High
High
Low
High

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