At first glance it may seem that the characteristics of firms in competitive markets are fairly unique, and that there are probably very few instances of competitive markets. You might think we only study competitive markets to get an idea of one extreme form that a market structure can take, and by looking at the two extremes (the other being monopoly), we can get an idea of how most firms between will behave. While this may be partially true, it is actually the case that there are many instances of competitive markets.In your initial post: Describe an existing competitive market. Elaborate on all four of the characteristics of competitive markets that define your particular market, and use them to defend that you have actually chosen a competitive market.
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