*Instructions: Please review the attached files to include the pdf file on website address in #2. Review all files thoroughly and answer each questions with a minimum of 200-word count. Separate your answers by question numbers for an easier breakdown. Use APA format to include in-text citations and a reference page. NO OUTSIDE SOURCES, only sources authorized are from the ones I provided to include the website for TRA. Here is the reference for the course material attached: Sexton, R. L. (2013). Exploring economics (6th ed.). Mason, OH: South-Western, Cengage Learning. NO PLAGIARISM! No cover/title page required. Let me know if you have any questions or concerns.
1. Choose a market or industry that you think is close to perfectly competitive. Then, explain whether or not your choice meets each of the characteristics shown in Slide #5 in the attachments. Is the market really perfectly competitive? Can absolute perfect competition exist in the “real world?”
2. Take a look at the latest annual report for the Tennessee Regulatory Authority at:
(make sure you do a google search in order for the pdf. file to pull up)
What types of industries does Tennessee Regulatory Authority (TRA) regulate? Choose a specific company that would fall within one of those industries. Why is this firm (and others within the industry) regulated?
3. Do each of characteristics of monopoly shown on Slide #18 in the attachment apply to the firm you have chosen in question #2? Explain why or why not each characteristic would or would not apply to your firm.