The competitive market model depends on the following three core assumptions: 1. There must be many buyers and sellersa few players can't dominate the market. 2. Firms must produce an identical productbuyers must regard all sellers' products as equivalent. 3. Firms and resources must be fully mobile, allowmg free entry into and exit from the industry. The rst two conditions imply that all consumers and rms are price takers. While the third is not necessary for pricetaking behaVIor, assume for this problem that a market cannot maintain competition in the long run without free entry. Identify whether or not each of the foiiowing scenarios describes a competitive market, aiong with the correct explanation of why or why not. Scenario Is the market competitive? V The government has granted the US. Postal Service the exclusive right to deliver mail. There are thousands of ninth and tenth graders in need of geometry tutoring services in Houston. 0f the twenty or so companies in town currently offering geometry tutoring, parents of high schoolers view the quality of each individual tutoring service to be about the same. There are thousands of car dealerships that serve millions of consumers each year. The dealerships vary by location, offerings, and quality, allowing consumers with an array of preferences to nd vehicles that match their Individual needs. A few major airline companies represent a great majority of total air travel. Consumers consider all different ights to be essentially the same, and comparison shop for the lowest price