the likely reasons that the market for dress shirts is not perfectly competitive are<u> dress shirts are not a standardized (homogeneous) product.</u>
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What is being perfectly competitive?</h3>
A perfectly competitive market, often referred to as an atomistic market, is defined by multiple idealizing criteria, which are together referred to as perfectly competitive, or atomistic competition, in general equilibrium theory.
It has been shown in theoretical models with perfectly competitive that a market will find equilibrium when the amount supplied for each good or service, including labor, equals the amount sought at the current price.
A Pareto optimal equilibrium would be this one. Perfectly competitive marketplaces are not always productively efficient in the short run because the output does not always occur where marginal cost and average cost are equal.
Long-term productive efficiency, however, comes about as new businesses enter the sector. Price and cost are lowered to the minimum of long-term average costs due to competition.
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Answer:
The Us only participated in the war because a lot of the oil they imported was from Kuwait and other Countries so they didn't want there oil gone so they stopped Iraq
Explanation:
Answer:
Ethnocentrism is the tendency to judge another culture by the standards of one's own culture. Ethnocentrism usually entails the notion that one's own culture is superior to everyone else's. Example: Americans tend to value technological advancement, industrialization, and the accumulation of wealth.
Explanation:
Ocean currents occur because of the moon cycles