Question
Oats - These can be produced in a perfectly competitive market. This is because just like the existence of a large number of firms in
"Oats - These can be produced in a perfectly competitive market. This is because just like the existence of a large number of firms in a perfectly competitive market, the oats market is also characterized by the existence of a large number of firms or farmers. Secondly, the product is homogenous that as oats are grown by two or more firms that are identical to each other. Entry and exit are also relatively without any barrier and firms acts as price taker as fairly good information exist about prices."
are there specific companies that make oats and brand themselves as so? My question is really about the role branding and product placement play on the type of product and whether it influences the marketplace, they compete under. In the United States, I can think of specific brands that sell oats; for example, Quaker is a big one that most consumers would identify. Does my ability to pick a brand then move oats out of perfect competition?
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