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During Ben's lunch break,he logged on to his computer to find the mutual fund he wanted to buy.As he made his way around several websites,he realized that the NAV net asset value) quoted was yesterday's close.His shares would be purchased tomorrow,with today's closing price.Looking over his shoulder,one of his coworkers suggested that he look into _________ because they are similar to mutual funds,but could be traded during the entire trading day,just like stocks.
Product Variety
The range of different products or services that a company offers to meet varying customer needs and preferences.
Monopolistic Competition
A market structure characterized by many firms selling products that are similar but not identical, allowing for some degree of market power.
Pure Competition
This is a market structure characterized by a large number of small firms, homogeneous products, and easy market entry and exit, leading to price-taking behavior.
Average Total Cost
The total cost of production divided by the number of units produced, including both fixed and variable costs.
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