Problem
1. Look at the list to the left. In what type of market is each good or service in the list sold? Explain your answers.
2. Explain why in a perfectly competitive market, the firm is a price taker. Why can't the firm choose the price at which it sells its good?
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.