Is a dry cleaning business a perfect competition?

Economics Dec 18, 2020

Expert Solution

A dry cleaning business is very, very close to a perfect competition. Theoretically, a dry cleaning business could offer a unique service, such as hypoallergenic cleaning supplies, delivery, or some other additional product or service; however, by and large, dry cleaning businesses are homogeneous. Also, starting a dry cleaning business is somewhat costly, so entering the market is not completely without cost.

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