Examlex
The integration of phage DNA into the bacterial chromosome occurs because of
Long-Run
A period in which all factors of production and costs are variable, allowing companies the flexibility to make changes in production capacity and operations.
Few Substitutes
Refers to a market condition where there are not many alternative products or services available to consumers, which often leads to less competition and higher prices.
Inelastic Demand
A situation in which the demand for a product does not change much in response to price changes.
Close Substitutes
Products that serve similar functions or needs and can easily replace one another in the eyes of the consumer.
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