Examlex
When online seller Amazon sets the default mail option as two-day mailing instead of the free-shipping option, it is employing:
Purely Competitive Industry
A market structure where many firms offer products or services that are similar, allowing for free entry and exit, and ensuring no single firm can influence market prices.
Long-Run Adjustments
Changes in the scale of production or in the input mix used by firms in response to economic conditions over a period where all inputs can be varied.
Market Supply
The total amount of a product or service that is available for purchase at various price points in a market at a given time.
Perfectly Elastic
A situation where the demand or supply for a good or service is infinitely responsive to changes in price.
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