1. Choose a market or industry that you think is close to perfectly competitive.
Read 4.pdf1. Choose a market or industry that you think is close to perfectly competitive. ; Then, explain whether or not your choice meets each of the characteristics shown in Slide #5 of the Attend. ; Is the market really perfectly competitive? ; Can absolute perfect competition exist in the “real world?”
*Characteristics include a market structure characterized by (1) many buyers and sellers, (2) identical products, (3) and easy market entry and exit.
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2. Take a look at the latest annual report for the Tennessee Regulatory Authority at:
http://www.state.tn.us/tra/reports/annualrpts/anlrpt1213.pdf
What types of industries does TRA regulate? Choose a specific company that would fall within one of those industries. Why is this firm (and others within the industry) regulated?
3. Do each of characteristics of monopoly shown on Slide #18 in the Attend section apply to the firm you have chosen in question #2? ; Explain why or why not each characteristic would or would not apply to your firm.
