Perfect competition is the simplest market structure, where the market is assumed to be in equilibrium and that all sellers sell the same product at the same price. The four conditions for perfect competition are:
1. There are many buyers and sellers in the market so that no one individual or seller can influence the price of the products, goods, and services.
2. Identical products are offered by the sellers
3. Both the buyers and the sellers are well-informed about the products and want to maximize profit.
4. Entry and exit to and from the market can be done freely by the sellers and buyers.
There is no market which displays 100% perfect competition. However, markets exhibiting nearly perfect competition do exist. These include street food vending and agricultural markets.
Answer:
Customer value.
Explanation:
Customer value is associated with the kind of gratification or value that a customer gains or experiences after communicating with a firm or company for purchase or sale of a product or service.
As per the question, the distinct combination of advantages that the users receive from 3M's flag highlighter like durability and convenience exemplify 'customer value'(gratification) that the users/customers experience in return for the amount they pay for the service from the company. Therefore, <u>'customer value'</u> is the answer.
Answer:
Correct. There are currently 100 memners in the us senate in all.
It used most of the water towards the farm, meaning less water for them to drink
