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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.

Respuesta :

elfedino2

Answer:IF each vendor has his own price or (ppower) so far every single vendor will have his own price.

Step-by-step explanation:

abiolataiwo2015

The graph show\ing the demand (D) and supply (S = MC) curves in the market for hot dogs indicate: Competitive market.

Competitive market

In a market were their is competition, when demand and supply curves intersect this indicate market equilibrium.

Based on the graph the market equilibrium price will be $1.50 per hot dog while on the other hand the market equilibrium quantity will be 250 hot dogs which  is the point were demand and supply intersect.

Inconclusion the market for hot dogs indicate: Competitive market.

Learn more about competitve market here:https://brainly.com/question/25717627

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