Mathematics
Mathematics, 19.10.2021 01:00, lohggg

Consider the market for taxis (cabs) in a city. The demand and supply for cabs are given in the number of cars running on the streets. Cab drivers are individual entrepreneurs, deciding about their entry and exit to and from the market individually (there are no big cab companies). Based on this information, please, answer the following questions. 

1.In your opinion, can we say, that this market is perfectly competitive? Why? Why not? Justify your answer. (3 points)

answer
Answers: 1

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Consider the market for taxis (cabs) in a city. The demand and supply for cabs are given in the numb...

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