Business, 08.06.2021 01:50 lisxramirez

Identify whether or not each of the following scenarios describes a competitive market, along with the correct explanation of why or why not. a. In a small town, there are two providers of broadband Internet access: a cable company and the phone company. The Internet access offered by both providers is of the same speed.
b. The government has granted a patent to a pharmaceutical company for an experimental AIDS drug. That company is the only firm permitted to sell the drug.
c. Dozens of companies produce plain white socks. Consumers regard plain white socks as identical and don't care who manufactures their socks.
d. In a major metropolitan area, one chain of coffee shops has gained a large market share because customers feel its coffee tastes better than that of its competitors.

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Identify whether or not each of the following scenarios describes a competitive market, along with t...

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