Question
Which of the following markets most closely resembles a perfectly competitive market Laptop Market Pediatric Surgery Watermelon Electricity I believe answer should be between LAPTOP
Which of the following markets most closely resembles a perfectly competitive market
- Laptop Market
- Pediatric Surgery
- Watermelon
- Electricity
I believe answer should be between LAPTOP MARKET and WATERMELON MARKET (I may be wrong).
Laptop: Homogeneous Products, Many Sellers, Many Buyers
Watermelon: Homogeneous Products, Many Sellers, Many Buyers
As per me below options cannot be because:
Pediatric Surgery: Special Skills to sellers are less. Not easy to enter in the market. Requires special degrees
Electricity: Special item so no more sellers. Not easy to enter in the market
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International Economics Theory and Policy
Authors: Paul R. Krugman, Maurice Obstfeld, Marc J. Melitz
9th Edition
978-0132146654, 0132146657, 9780273754091, 978-0273754206
