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Northwest ACCOUNTING 212 – Coffee shops and gasoline

01 / 10 / 2021 Projects

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Northwest ACCOUNTING 212 – Coffee shops and gasoline

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?Please use outside sources to reference your work.

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