Write the Word or Phrase That Best Completes Each Statement $$r _ { 1 }$$

question 148

Short Answer

Write the word or phrase that best completes each statement or answers the question.
Provide the missing information.
-Consider a set of n elements of which one element is repeated $$r _ { 1 }$$ times. Then the number of
permutations of the elements of the set is given by $\frac { \square } { \square } \text {. }$

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Definitions:

Competitive Industry

An industry characterized by many firms producing similar goods or services, where no single firm has a dominant market share.

Market Price

The existing rate at which an asset or service is available for buying or selling in the market.

Demand Curve

A visual diagram showing the correlation between an item's price and the amount of it that consumers want to buy.

Profit Maximized

Profit maximized refers to a scenario where a firm achieves the highest possible profit from its operations, where marginal costs equal marginal revenue.