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profitability of the stores

Can you help me with this problem?

Grocery stores & gasoline stations in a large city would appear to be examples of competitive markets: There are many relatively small sellers, each seller is a price-taker & the products are similar.

1.How could you argue that these markets are not competitive & why?
2.Could each company face a demand curve that is not perfectly elastic & why?
3.How profitable do you expect these stores and stations to be in the long run & why?

Thank you

Solution Summary

Show the profitability of the stores.

$2.19