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

question 123

Essay

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

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Definitions:

Standard Error

A statistical measure that indicates the accuracy with which a sample distribution represents a population by using its standard deviation and sample size.

Sample Size

The number of observations or elements selected from a population to study a particular property.

Population Proportion

Population proportion represents the fraction or percentage of members in a population that exhibits a particular attribute or characteristic.

Margin of Error

A statistic expressing the amount of random sampling error in a survey's results, indicating the range within which the true value lies with a certain level of confidence.