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Consider weekly market for gyros in a popular neighborhood

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Reference no: EM133525812

Question: Consider the weekly market for gyros in a popular neighborhood close to campus. Suppose this market is operating in long-run competitive equilibrium with many gyro vendors in the neighborhood, each offering basically the same gyros. Due to the structure of the market, the vendors act as price takers and each individual vendor has no market power.

Reference no: EM133525812

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