Identify whether or not each of the following scenarios describes a competitive market, along with the correct explanation of why or why not.
two taxi companies serve most of the market in a big city. consumers don't care which taxi company they take—if they decide it's worth taking a taxi, they flag down the nearest one.
the government has granted a patent to a pharmaceutical company for an experimental aids drug. that company is the only firm permitted to sell the drug.
there are hundreds of colleges that serve millions of students each year. the colleges vary by location, size, and educational quality, which allows students with diverse preferences to find schools that match their needs.
there are hundreds of high school students in need of algebra tutoring services in denver. dozens of companies offer tutoring services, and the parents who seek out tutors view the quality of the tutoring at the different companies to be largely the same.

The chromosome manufacturing company produces two products, x and y. the company president, jean mutation, is concerned about the fierce competition in the market for product x. she notes that competitors are selling x for a price well below chromosome's price of $13.50. at the same time, she notes that competitors are pricing product y almost twice as high as chromosome's price of $12.50.ms. mutation has obtained the following data for a recent time period: product x product y number of units 11,000 3,000 direct materials cost per unit $3.23 $3.09 direct labor cost per unit $2.22 $2.10 direct labor hours 10,000 3,500 machine hours 2,100 1,800 inspection hours 80 100 purchase orders 10 30ms. mutation has learned that overhead costs are assigned to products on the basis of direct labor hours. the overhead costs for this time period consisted of the following items: overhead cost item amount inspection costs $16,200 purchasing costs 8,000 machine costs 49,000 total $73,200using direct labor hours to allocate overhead costs determine the gross margin per unit for product x. choose the best answer from the list below.a. $1.93b. $3.12c. $7.38d. $2.43e. $1.73using activity-based costing for overhead allocation, determine the gross margin per unit for product y. choose best answer from list below.a. $10.07b. ($2.27)c. ($5.23)d. ($7.02)e. $7.02