What serious biases or misassumptions do groups that are involved in inter-team conflict sometimes experience? How do these biases and prejudices affect the ability of teams to accomplish their goals?
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The average revenue curve, and the marginal revenue curve all coincide and are horizontal at the market-given price. The demand curve is perfectly elastic and coincides with the average and marginal revenue curves. Economic actors are price-takers. Perfectly competitive firms have zero market power; that is, they have no ability to affect the terms and conditions of exchange.
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