How could we argue that these markets are notcompetitive

Reference no: EM13134049

Grocery stores and gasoline stations in a large city would appear to be examples of competitive markets: There are numerous relatively small sellers, each seller is a price-taker, and the products are quite similar.

a. How could we argue that these markets are notcompetitive?

b. Could each firm face a demand curve that is not perfectly elastic?

c. How profitable do you expect grocery stores and gasoline stations to be in the long run

Reference no: EM13134049

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