What factors are important in defining the market


Problem

Consider the market for canned tuna fi sh. The labels fall into three categories: premium (Bumble Bee, Star Kist, Chicken-of-the-Sea), medium-quality (Three Diamonds, Geisha), and store-brand. There is chunk light tuna and solid white tuna; tuna packed in water and tuna packed in oil. Is there a single "canned tuna" market? A "premium tuna" market? What factors are important in defining this market?

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.

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Microeconomics: What factors are important in defining the market
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