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Compare and contrast the use of fMRI and TMS and describe their applications in psychology.What sort of information does each approach give us? Which technique can be used to make causal statements about the link between brain activity and behavior?
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The condition in which new firms can enter the market with no or minimal barriers, promoting competition.
Imperfect Competition
Imperfect competition describes a market structure where the conditions for perfect competition are not met, due to factors like monopolies and product differentiation.
Monopolistic Competition
A market structure in which many companies sell products that are similar but not identical, allowing for competition based on price, quality, and innovation.
Oligopoly
A market structure characterized by a small number of firms dominating the market, leading to limited competition.
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