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Question

Consider the following goods and services. Which are the most likely

to be produced in a perfectly competitive industry? Which are not? Explain why you made the choices you did, relating your answer to the assumptions of the model of perfect competition. Please address all of the examples below in your discussion.


1.   Coca-Cola and Pepsi
2.   Potatoes
3.   Private physicians in your local community
4.   Government bonds and corporate stocks
5.   Taxicabs in Lima, Peru—a city that does not restrict entry or the prices drivers can charge
6.   Oats

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