Describe,in Detail,each of the Following Characteristics of a Highly Competitive

question 157

Essay

Describe,in detail,each of the following characteristics of a highly competitive firm and explain why each characteristic is important:
a.many buyers and many sellers;
b.similar products;
c.and no barriers to entry or exit.

---

Definitions:

Hatchery Fish

Fish that are bred and raised in artificial environments for purposes such as restocking depleted fishing areas.

Life Span

The duration of time from the birth to the death of an organism or a specified duration of existence for non-living entities.

Freshman Weight Gain

The average amount of weight gained by students during their first year of college, often attributed to changes in diet and exercise habits.

Nutritionists

Professionals specializing in the study and practice of nutrition and diet planning to promote health and manage diseases.