https://www.cnbc.com/2018/07/13/target-ebay-pile-on-deals-to-compete-ahead-of-amazon-prime-day.html?__s=70smnpuposix6t6mb0ik Description:In its fourth year, Amazon Prime Day is now drawing the attention of rivals eBay, Target, Kohl's, Macy's and more. It's great news for shoppers looking to save money but added pressure for those companies already losing market share to the e-commerce behemoth. Instructions: E-commerce is far from perfectly competitive but many lessons can be pulled from the article below to talk about what happens when competition occurs. Read the news article and answer the following questions. Bring this worksheet with you to class on __________; the day we begin talking about perfect competition. Have you ever visited Amazon during Amazon Prime Day? Have you ever visited other e-commerce websites during Amazon Prime Day? What was your experience? The article starts with: "Amazon Prime Day isn't just about the deals on Amazon anymore." In economics we may refer to Amazon as having afirst-mover advantagewith regards to large e-commerce sales in July. Look up the economic conceptfirst-mover advantageand relate it to the news article you read. According to the article, what are some ways Amazon's rivals are trying to compete with Amazon around Prime Day? With more and more competition from rivals like eBay, Target, Kohl's, Macy's, etc, what is happening to the overall prices of goods and services around the time of Amazon Prime Day? Theoretically, if e-commerce was perfectly competitive, what do we know the price of all products on every site would be equal to? 6. Explain how Amazon Prime Day can cause both a shift of the demand curve and a movement along the demand curve.