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A large city has nearly 500 restaurants with new ones entering regularly as the population grows The city decides to limit the number of restaurant licenses to 500 Which characteristics of this

A large city has nearly 500 restaurants with new ones entering regularly as the population grows The city decides to limit the number of restaurant licenses to 500 Which characteristics of this

A large city has nearly 500 restaurants, with new ones entering regularly as the population grows. The city decides to limit the number of restaurant licenses to 500. Which characteristics of this market are consistent with perfect competition and which are not? Is this restaurant market likely to be nearly perfectly competitive? Why?

abhinav behal 15-May-2020

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