Post a New Question


posted by .

Grocery stores and gasoline stations in a large city would appear to be examples of competitive markets: There are numerous relatively small sellers, each seller is a price taker, and the products are quite similar. a. How could we argue that these markets are not competitive? b. Could each firm face a demand curve that is not perfectly elastic? c. How profitable do you expect grocery stores and gasoline stations to be in the long run?

Answer This Question

First Name
School Subject
Your Answer

Related Questions

More Related Questions

Post a New Question