Question

1. Give an example of a market that is not currently perfectly competitive but could become one, or at least more competitive, under certain possible circumstances. What are those circumstances and how will they make a market (more) competitive?

Answer 1

Cab services and transportation market.  

right now there are few big and small cab services working in the market which basically helps people commute between places. Here, the product is same and cannot be differentiated there are a number of service provider in the market and there is free entry and exit in the market. Only problem is unionization and they forming a cartel. With increasing penetration of the service delivery apps these unions can be dissolved and more and more apps will facilitate the service making it perfectly competitive.