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Perfect competition provides both allocative efficiency and productive efficiency: Such markets are allocatively efficient, as output will always occur where marginal cost is equal to average revenue i.e. price (MC = AR). In perfect competition, any profit-maximizing producer faces a market price equal to its marginal
Competition is often for a resource such as food, water, or territory in limited supply, or for access to females for reproduction. [18] Competition among members of the same species is known as intraspecific competition , while competition between individuals of different species is known as interspecific competition .
Perfect competition exists where an industry's concentration ratio is CR n = n/N, where N is the number of firms in the industry. That is, all firms have an equal market share. Low concentration – 40% A concentration ratio of close to 0% implies perfect competition at the least. This is only possible in an industry where there is a very large ...
The Herfindahl Index (HHI) ranges from 1/N (in case of perfect competition) to 1 (in case of monopoly), where N is the number of firms in the market. Equivalently, if percents are used as whole numbers, as in 75 instead of 0.75, the index can range up to 100 2, or 10,000. Herfindahl-Hirschman Index
In biology, competition is an interaction between organisms in which the fitness of one is lowered by the presence of another. This may be because both rely on a limited supply of a resource such as food, water, or territory. [67] Competition may be within or between species, and may be direct or indirect. [68]
In ethology, male-male intrasexual competition occurs when two males of the same species compete for the opportunity to mate with a female. Sexually dimorphic traits, size, sex ratio , [ 1 ] and the social situation [ 2 ] may all play a role in the effects male-male competition has on the reproductive success of a male and the mate choice of a ...
“It’s not what you feed, it’s the way you feed it,” explains Burton. “Your treat delivery technique can have a powerful impact on the outcome of your training.”
This model can be generalized to any number of species competing against each other. One can think of the populations and growth rates as vectors, α 's as a matrix.Then the equation for any species i becomes = (=) or, if the carrying capacity is pulled into the interaction matrix (this doesn't actually change the equations, only how the interaction matrix is defined), = (=) where N is the ...