Examlex
Remember to be completely __________ when completing a job application and resume.
Existing Firms
Businesses that are already operating within a market, as opposed to new entrants.
Long Run
A period in economics where all factors of production and costs are variable, allowing for complete industry adjustment to changes.
Monopolistic Competition
A market structure where many companies sell products that are similar but not identical, leading to competition based on quality, price, and brand.
Perfect Competition
A market structure characterized by many sellers and buyers, homogeneous products, and no single entity able to influence prices.
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