Question: Familiarize yourself with a product or service that is sold under conditions of perfect competition. Explain why it is an example of perfect competition and

Familiarize yourself with a product or service that is sold under conditions of perfect competition. Explain why it is an example of perfect competition and identify the factors that make it so. Then do the same for a product in each of the other three competitive situations described in the chapter (monopolistic competition, oligopoly, and monopoly).

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