Read, Reflect and Answer: This weeks topic is perfect Competition, The article explores how the Market for Orchids went from being an exclusive exotic commodity to a mass produced commodity. Please read the article, reflect on it and answer the following question.
In your opinion is the Market of Orchids today an example of perfect Competition? List three characteristics of perfectly competitive markets. Are these conditions satisfied by the market of Orchids? Quote from the article to prove your points.
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