Because Most Gas Stations Are Small Relative to the Market

question 8

True/False

Because most gas stations are small relative to the market in which they operate and gasoline is fairly homogeneous,the market for gasoline is considered to be perfectly competitive.

---

Definitions:

Business Equipment

Tangible assets such as machinery, computers, and tools that are used in the operation of a business to carry out various tasks.

Agricultural Machinery

Machines and equipment used in farming to aid in the production of crops and livestock, such as tractors and harvesters.

Financial Institutions

Organizations that provide financial services, like banks, insurance companies, and stock exchanges.

Roads and Bridges

Essential infrastructure elements that facilitate the movement of people and goods, significantly impacting economic productivity and quality of life.