Briefly describe each of the following source documents:
Definitions:
Excess Capacity
The situation where a firm has resources that are not being fully utilized, often leading to inefficiency and increased costs.
Monopolistic Competitor
A market structure where many firms sell products that are similar but not identical, allowing them some power to set prices due to product differentiation.
Advertising
The activity or profession of producing advertisements for commercial products or services.
Perfect Competitors
Firms that are so numerous and small in relation to the market they serve that they have no power to alter the market price of their product, characterized by a lack of market dominance.
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