The Case of Potato Industry
Discuss how the facts in the potato industry case (article links below) illustrate the lack of control over prices by individual potato producers in a competitive market. Also, discuss the response to high prices predicted by the model of perfect competition and the attempts by producers in a competitive market to gain control over price. Check recent business publications to find out how successful the United Potato Growers of America cooperative has been in recent times.
https://www.rd.usda.gov/files/CoopMag-mar05.pdf (only page 4-7 on the potato industry)