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Explain What a "Perfectly Contestable" Market Is

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Explain what a "perfectly contestable" market is.Explain why the outcome in a perfectly contestable market is that firms produce efficiently.


Definitions:

Soreness

A feeling of pain, discomfort, or tenderness in the muscles that often occurs after exercise or physical activity, typically due to muscle overuse or strain.

Injury

Damage to the body caused by external force, which can be physical harm or damage to the muscles, bones, or tissues.

Human Spine

A structure made up of multiple vertebrae that extends from the skull to the lower back, providing support for the body and protecting the spinal cord.

Synovial Joints

A type of joint that is surrounded by a fluid-filled capsule, allowing for smooth movement between bones.

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