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Describe,in detail,each of the following characteristics of a highly competitive firm and explain why each characteristic is important:
a.many buyers and many sellers.
b.similar products.
c.no barriers to entry or exit.
Invoice
A document issued by a seller to a buyer, indicating the products, quantities, and agreed prices for products or services the seller has provided.
Sales Revenue
The total amount of money generated from the sale of goods or services before any expenses are deducted.
Merchandising Company
A business that purchases goods in a finished condition for the purpose of resale without further manufacturing.
Investment Revenue
Income generated from investing financial assets, including dividends, interest, and capital gains.
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