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IDENTIFICATIONS
-Strom Thurmond
Monopolistic Competition
A market structure characterized by many firms selling products that are similar but not identical, allowing for competition on factors other than price.
Pure Competition
A market structure characterized by a large number of sellers offering identical or very similar products, with no single seller able to influence prices.
Break-even Points
The level of production or sales at which total costs equal total revenue, resulting in no net loss or gain.
Small-business Consultants
Professionals offering expert advice to small businesses on various aspects, including management, marketing, and operational strategies to foster growth.
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