Our lil' ol' bike business—the same one we toil in night and day, usually because we happen to like bikes a lot—is now starting to appear in various college business courses as literally a textbook example of what’s called Perfect Competition. We're being taught to Business and Econ majors across the country because the bike business happens to score a perfect five points out of five for the characteristics that define Perfect Competition. What are those, and why does it matter? Read on.
On The Microeconomics Of The Bike Biz
Published October 18, 2010