Consider three industries: organic onion farming, aluminum production, and car production. a. Drawing on the characteristics of a competitive market outlined in the chapter, explain which of the industries named is most likely to be perfectly competitive. Be sure to explain why those industries you believe are less competitive fail to meet the criteria outlined in the chapter. b. The vast majority of industries are probably not perfectly competitive. Why, then, do you suppose economics courses emphasize the study of perfect competition as much as they do?
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