Question

Finding a life partner is a complicated process that may take many years. it is hard to think of this process as being part of a very complex market, with a demand and a supply for partners. think about how this market works and some of its characteristics, such as search costs. would you consider it a perfectly competitive market?

Answer 1

Yes , It is perfectly a competetive market

It can be considered as a competetive market because of the following reasons:

• Numerous young people looking for a suitable companion for themselves make up the existence accomplice search industry.

• Every single one of them comes with a specific list of traits and personalities in search of a partner with specific characteristics. For instance, some people look for age, some for character, some for wealth, etc.

• Additionally, there is a significant search cost involved because finding partners, shortlisting them, speaking with them, and determining whether they are a good fit takes a lot of time and is ultimately pointless.

• Given the large number of young men and women and their diverse characteristics, this market should therefore be seen as even more of a monopolistically serious market. Each one focuses on utility excellence, although they are not all that alike.

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