Examlex
Which organism is more likely to go extinct-one with a specialized,narrow niche or one with a broad,generalized niche? Explain your answer.
Perfectly Competitive
A perfectly competitive market is one where there are many sellers and buyers, homogeneous products, and no barriers to entry or exit, resulting in market prices determined by supply and demand.
Generic Pharmaceuticals
Medications marketed without brand names and often sold at lower prices than their branded counterparts, but contain the same active ingredients.
Smart Phones
Advanced mobile phones with extensive computing abilities, including internet access, app functionality, and touchscreen interface.
Perfectly Competitive
Describes a market structure where all firms sell identical products, there are many buyers and sellers, and no single entity can influence the market price.
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