Answer to Question #18467 in Economics of Enterprise for Jude Cano

Question #18467
Choose a market for a good in your area that seems to be a perfectly competitive or monopolistically competitive market. Write four or five substantive paragraphs that describes the market and answers the following questions: • Identify the buyers and sellers as well as the goods or services. • How closely do real world conditions match the characteristics listed in the model? • Are the sellers price takers? • Do they compete using price? • Is the good in question standardized? • Is this market regulated by government in any way • Explain the competitive environment.
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