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Goods & Perfect Competition What are the conditions for a perfectly competitive market? What are some real-life examples of perfectly competitive markets? What are economic

Goods & Perfect Competition

  1. What are the conditions for a perfectly competitive market?
  2. What are some real-life examples of perfectly competitive markets?
  3. What are economic profit-maximizing strategies that may be made by a perfectly competitive firm?
  4. Identify a good that you regularly purchase and you feel is in perfect competition - how do the characteristics of the goods and the market structure it operates in affect the firm's ability to change the price?
  5. How has online retailing affected markets for productshave they become more or less competitive as a result? Explain!

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