Describe,in detail,each of the following characteristics of a highly competitive firm and explain why each characteristic is important:
a.many buyers and many sellers;
b.similar products;
c.and no barriers to entry or exit.

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The Answer of Describe,in detail,each of the following characteristics of a highly competitive firm and explain why each characteristic is important:
a.many buyers and many sellers;
b.similar products;
c.and no barriers to entry or exit.

Describe,in Detail,each of the Following Characteristics of a Highly Competitive