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Characteristics of Cohesive Groups Include All of the Following EXCEPT

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Characteristics of cohesive groups include all of the following EXCEPT


Definitions:

Average Total Cost

The cost per unit of output, calculated by dividing the total cost of production by the quantity of output.

Perfect Competition

A market structure characterized by a large number of small firms, a homogeneous product, free entry and exit, and perfect information.

Perfect Competitor

A theoretical market structure where numerous small firms compete against each other without having any significant market power.

Output

The total amount of goods and services produced by an economy or a firm.

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