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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Would independent trucking fit the characteristics of a perfectly competitive industry?

To determine

Whether independent truckers fit the characteristics of a perfectly competitive industry.

Explanation

Independent truckers are usually small sellers and always large in number. They can be among all the other sellers who are independent and are offering the same kind of job that is transporting between two points and using the same kind of truck. Since all are offering the same type of service, they will all be “price takers...

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