A market is defined according to the geographic area in which sellers compete for buyers and the

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A market is defined according to the geographic area in which sellers compete for buyers and the extent to which buyers view sellers’ products as substitutes. What, in your opinion, would be the substitutes and relevant geographic market for each of the following?

Be able to defend your answers.

a. Beer from a small microbrewery in central Pennsylvania

b. A four-door Swedish automobile for sale at a U.S. dealership

c. A ski resort in the Rocky Mountains

d. A major state university

e. Frozen pizza

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Economics Theory And Practice

ISBN: 9781118949733

11th Edition

Authors: Patrick J. Welch, Gerry F. Welch

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