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Which of the following is NOT a characteristic of a perfectly competitive market?
Innovation Diffusion
Innovation diffusion is the process by which a new idea, product, or technology spreads through cultures and societies, from its origin to widespread adoption.
Product Life Cycle
The stages through which a product moves from its introduction into the market through its growth, maturity, and eventual decline.
Maturation
The process of growth and development, either in biological organisms or in organizations as they evolve and reach full potential.
Diffuse
To spread or scatter widely or thinly; often relating to the dissemination of ideas or technologies.
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