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Identify whether or not each of the feiiowing scenarios describes a competitive market, aiong with the comect expianation of why or why not. Scenario Competitive?
Identify whether or not each of the feiiowing scenarios describes a competitive market, aiong with the comect expianation of why or why not. Scenario Competitive? v There are dozens of pasta producers that sell pasta to hundreds of Italian restaurants nationwide. The restaurant owners buy from the cheapest pasta producer available to Yes, meets all assumptions them. No, no free entry v "he government has granted the U.S. Postal Service the exclusive right to deliver mail. No, not many sellers No, not an identical product v "wo taxi companies serve most of the market in a big city. Consumers don't care which taxi company they takeif they decide it's worth taking a taxi, they ag down the nearest one. Several stores in the mall sell hooded sweatshirts. Each store's sweatshirts reect the style of that particular store. Additionally, some makers use higher-quality cotton than othersJ which is reected in the apparel's prices
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