Classify the following markets as perfectly competitive, monopolistic, or monopolistically competitive, and explain your answers. a. Wooden
Question:
Classify the following markets as perfectly competitive, monopolistic, or monopolistically competitive, and explain your answers.
a. Wooden no. 2 pencils
b. Copper
c. Local electricity service
d. Peanut butter
e. Lipstick
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a The market for wooden 2 pencils is perfectly competitive because pencils ...View the full answer
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