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The Cedar Store carries a full line of cedar swings,gliders,garden benches,and tables.All of its products can be purchased through its Web site.The site has done well since the Cedar Store's products do not need to be touched or smelled before purchase.The Cedar Store is engaging in:
Long-Run Equilibriums
A state in a market where all firms are making zero economic profit, and no new firms enter or exit the industry, resulting in a stable market condition over time.
Interdependent Firms
Businesses whose decisions and performance affect and are affected by the decisions and performance of other firms within the market.
Identical Products
Goods that are exactly the same in every characteristic, quality, and performance, with no differentiation.
Wasteful Duplication
The unnecessary repetition of tasks or production, often leading to inefficiency and increased costs.
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