Problem
1. Suppose the market for bottled water and the market for soft drinks both have large numbers of buyers and sellers. Which of these markets is likely to be more competitive?
2. Suppose the market for steel and the market for cars both have large numbers of buys and sellers. Which market is likely to be affected by information asymmetries?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.