The first two conditions imply that all consumers and firms are price takers. While the third is not necessary for price-taking 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 following scenarios describes a competitive market, along with the correct explanation of why or why not. Scenario Is the market competitive? Several online retailers sell vintage crewneck sweatshirts. Each shop's crewnecks are characterized by the style of that particular brand. In addition, some producers use only cotton while others use a polyester blend, a distinction reflected in the price of the crewnecks. Gentoo Inc. controls the copyright to a popular series of mystery novels. It is the only company with the right to legally publish books in the series in the United States. Two ride share apps service a large percentage of a big city market. Consumers do not prefer one app over the otherif they choose to order a ride, they opt to use the app with the shortest wait time. There are thousands of ninth and tenth graders in need of geometry tutoring services in New York City. Of the twenty or