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Examples of competitive markets

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Coffee shops and gasoline stations in a large city would appear to be examples of competitive markets. The means that there are numerous relatively small sellers, each seller is a price-taker and the products are quite similar. How could we argue that these markets are not competitive? (or can we?) Could each firm face a demand curve that is not perfectly elastic? How profitable do you expect coffee shops and gasoline stations to be in the long run?

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Reference no: EM131229007

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