Consider the daily market for hot dogs in a small city. Suppose that this market is in long-run competitive equilibrium with many hot dog stands in the city, each one selling the same kind of hot dogs. Therefore, each vendor is a price taker and possesses no market power.
Accepted Solution
A:
Answer:IF each vendor has his own price or (ppower) so far every single vendor will have his own price.Step-by-step explanation: