Of the Following Industries, Which Are Perfectly Competitive? for Those

question 198

Essay

Of the following industries, which are perfectly competitive? For those that are not perfectly competitive, explain why.
a.Restaurants
b.Corn
c.University education
d.Local radio and television
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Definitions:

Cash Collections

The process of gathering all cash payments received from customers for goods or services provided.

Off-Balance Sheet

An accounting practice where a company does not include certain assets or liabilities on its balance sheet, often to keep the item from affecting its financial ratios.

Collateralized Borrowings

Loans for which the borrower has provided a guarantee in the form of assets to secure the repayment of the loan, reducing the risk for the lender.

Surrenders Control

An event or action in which an entity gives up its power to govern the financial and operating policies of another entity.