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New firms enter a competitive market when, for existing firms in that market,

Which of the following business decisions will be made by firms that are price searchers but not those that are price takers?

Which of the following explains why business owners have a strong incentive to strive for operational efficiency?

The dynamic process of competition

Special-interest legislation is characterized by

Markets fail to achieve ideal economic efficiency when externalities are present

A firm in a price-taker market

The three basic legal forms of business enterprise are

Which of the following is a characteristic of a competitive price-taker market?

Which of the following is characteristic of the corporate form of ownership?