Perfectly competitive firms would not advertise as advertising would serve no purpose. A market that is perfectly competitive exists only in theory.
A Boolean variable can be used to signal when a condition exists. It can have a value of true or false based on whether the condition is met or not.
monopoly
Yes
Scarcity
flag
A competition relationship is the struggle between animals as they try to use the same limited resource.
Energy
Hypotension.
carcity exists
*** 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.
Incomplete dominance