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Q: What is competitive condition exists?
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Do perfectly competitive firms advertise?

Perfectly competitive firms would not advertise as advertising would serve no purpose. A market that is perfectly competitive exists only in theory.


What type of competitive structure exists when a firm produces a product that has no close substitutes?

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What is a perfectly competitive firm?

*** Market condition wherein no buyer or seller has the power to alter the market price of a good or service. Characteristics of a perfectly competitive market are a large number of buyers and sellers, a homogeneous (similar) good or service, an equal awareness of prices and volume, an absence of discrimination in buying and selling, total mobility of productive resources, and complete freedom of entry. Perfect competition exists only as a theoretical ideal.


Name and describe the condition that exists when the diffusion of a particular substance is complete?

Passive Transport (: