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What Is a Characteristic of a Perfectly Competitive Market

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What is a characteristic of a perfectly competitive market


Definitions:

Unemployment

The state of being without a job despite actively looking for work.

Downward-sloping

A term used to describe a graphical representation where a line or curve moves lower as it travels from left to right, indicating a negative relationship between two variables.

Efficiency Wage Model

An economic theory suggesting that higher wages might lead to increased productivity by attracting better employees and increasing worker motivation.

Electronic Devices

Gadgets like smartphones, laptops, and tablets that operate on electrical power and digital information.

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