Calvin’s campgrounds are a firm conducting business in a competitive market. If his revenues cover his variable costs he could stay open.
A competitive market is a term in economics that refers to a marketplace wherein there are a massive amount of customers and sellers and no single customer or supplier can affect the market. competitive markets have no barriers to access, plenty of shoppers and sellers, and homogeneous merchandise.
In economics, mainly preferred equilibrium idea, a super marketplace, also referred to as a competitive market, is described by way of several idealizing conditions, collectively called the best competition or atomistic opposition.
The 4 famous forms of market structures include ideal opposition, oligopoly marketplace, monopoly marketplace, and monopolistic opposition.
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