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29 October, 07:12

Vamplife is a company that produces blood for vampire consumption. In this market, assume that there are many firms, entry and exit is relatively easy, and firms sell a homogeneous product. Vamplife is a firm in which market structure?

1. monopolistic competition

2. perfect competition

3. monopoly

4. oligopoly

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Answers (1)
  1. 29 October, 07:29
    0
    The correct answer is number "2": perfect competition.

    Explanation:

    Perfect competition is a theoretical market structure in which competition is at its greatest level possible. It functions as a standard to measure the efficiency and effectiveness of real-world markets. Inside a market with perfect competition, all firms sell an identical product and the industry is characterized by low or no barriers to enter and exit an industry.
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Home » Business » Vamplife is a company that produces blood for vampire consumption. In this market, assume that there are many firms, entry and exit is relatively easy, and firms sell a homogeneous product. Vamplife is a firm in which market structure? 1.
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