Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Identify a market; the market must be different than any of the markets posted by other students. The market should be bound geographically (e.g. the

Identify a market; the market must be different than any of the markets posted by other students. The market should be bound geographically (e.g. "the market for cars in California, or "the market for cheese in the United States," or "the market for avocadoes in San Diego.") Explain in one sentence why you bounded your market by your geographic location. List out the five characteristics (you can use the ones below) and explain how your market is categorized in a sentence or less for each characteristic. Number of firms: Firms price takers or setters: (leave blank) Firms sell what type of good: Firms/consumers have full information?: Barriers to entry: Cite all sources used (posts must have citation to earn points)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics

Authors: Paul Krugman, Robin Wells

4th Edition

1464143870, 9781464143878

More Books

Students also viewed these Economics questions

Question

Where does the person work?

Answered: 1 week ago