4. Familiarize yourself with a product or service that is sold under conditions of pure competition. Explain
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4. Familiarize yourself with a product or service that is sold under conditions of pure competition. Explain why it Is an example of pure 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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