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Esters can be formed by a condensation reaction between a carboxylic acid and an alcohol.
Individual Firm
An individual firm refers to a single business entity that operates in a market to produce or sell goods and services.
Relatively Easy Entry
Refers to industries or markets where barriers to entry are minimal, allowing new competitors to join with fewer obstacles.
Similar Products
Goods that serve the same purpose or function and can substitute for each other in consumer usage.
Large Number
Refers to a quantity significant enough to influence or be noticed within a particular context, often used in statistical or mathematical analyses.
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