Examlex
A(n) ________ is composed of one sugar (deoxyribose or ribose), one phosphate, and one nitrogenous base.
Homogeneous Product
A product that is considered identical or equivalent by consumers, with no significant differences from other products in the market.
Free Exit
The condition in a market where firms can leave the industry without incurring high costs, facilitating competition and economic efficiency.
Perfectly Competitive Firm
A company that operates in a market where there are many buyers and sellers, all selling homogeneous products, with no single party having market control.
Perfectly Competitive Market
A market structure where many firms offer an identical product, and no single supplier can influence the market price.
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