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Two of the strategies that have been developed by the Texas Water Development Board to meet the long-term needs of Texas include
Perfect Competitor
An ideal market condition where numerous small firms compete against each other, and goods are sold at their marginal cost.
Long Run
A period in economic theory where all factors of production and costs are variable, allowing companies to adjust to market conditions fully.
Perfect Competitor
A theoretical market structure where many firms sell an identical product, entry and exit from the market are easy, and no single seller can influence the market price.
Long Run
A period of time in which all factors of production and costs are variable, and companies can adjust all inputs.
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