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Define the Competitive Equilibrium

question 63

Essay

Define the competitive equilibrium. Explain how market forces push the price towards this equilibrium.


Definitions:

Microbes

Tiny, single-celled organisms, including bacteria, viruses, fungi, and protozoa, that can exist in a variety of environments.

Archae

A domain of single-celled microorganisms that are genetically distinct from bacteria and eukaryotes, often living in extreme environments.

Protists

Eukaryotic organisms that are not animals, plants, or fungi, often found in moist or aquatic environments.

Folic Acid

A B-vitamin essential for red blood cell formation and for healthy cell growth and function.

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