Examlex
A competency is not core if it is easy for competitors to imitate.
Perfectly Competitive Firm
A firm that operates in a market where there are many buyers and sellers, the products are homogeneous, and no single buyer or seller can influence the market price.
Marginal Revenue
The additional income generated from selling one more unit of a product is known as marginal revenue.
Marginal Cost
The financial impact of producing an extra unit of a product or service.
Perfectly Competitive Firms
Firms that operate in a market where no single buyer or seller has the power to influence the price of the product, and where the product offered is homogeneous, with many sellers and buyers.
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