Economics: The Basics 1st Edition by Mike Mandel

Exercise 5

Consider the following products. Discuss whether each one meets the conditions of perfect competition. Do buyers and sellers have good information about the prices being charged in the market? Is the product standardized? Are there many buyers and sellers?
a) Apples in the grocery store.
b) Plane tickets from New York to Seattle.
c) Insurance for your car.
d) Video games.
e) Cable television service for your home
f) Tickets to a professional football game.
g) Desktop computers.
h) Cellular telephone service.
i) Passenger train service.