Answer:
Perfect competition
Explanation:
The widget market is best described as a perfectly competitive market. A perfectly competitive market is a type of market without restriction in entry and exit, it is characterized by many sellers of similar products and buyers and there is perfect information about the price of goods. In a perfectly competitive market, due to the free entry and exit, no single producer has an influence over the price of goods. In the long-run, in perfectly competitive market, there is no economic profit because more producers will enter the market if it is profitable thus bringing about competition which will cause average revenue to equal average cost in the long run.
When deciding for whom to produce, the consideration that must be addressed is WHO NEED THE PRODUCT THAT IS TO BE PRODUCED.When a decision has been made about what to produce, the producer must target a particular set of individuals or a specific population of the economy who are going to be the users of the product he want to produce. This specified population will be the primary consumers that the producer is targeting for his product. For instance, a producer that want to start producing pampers will be targeting mainly pregnant women and nursing mothers for his product.
It definitely isn’t literal. Sitting on the fence is a common idiom used in the English language and it’s used to describe one's hesitance to choose between two sides in an argument or a competition, or inability to decide due to lack of courage.
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Tom Hanks is the oscar-winning actor portrayed Mr. rogers in the film, a beautiful day in the neighborhood.
<h3>Who is Tom Hank?</h3>
Tom Jeffery Hanks, known as American culture icon. He is an American actor and filmmaker.
He is best known for dramatic and comedy roles. A good movie of him is The terminal, I have watches, you can watch.
Thus, Tom Hanks is the Oscar-winning actor portrayed Mr. rogers.
Learn more about Tom Hank
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