Tampa Italian Restaurants
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microeconomics ( classifying markets)?
suppose you own an italian restaurant in Tampa. a classmate of yours says that you operate in a purely competitive market because there are a lot of restaurants in Tampa. Use the criteria for classifying markets to explain why you should agree or disagree with her assesment.
If a lot of other businesses are offering the same goods or services , then the “market” is “competitive”.
The criteria is to compare the number of potential customers in Tampa (100,000) to the number of similar restaurants (25)..
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