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List the characteristics that a market must possess in order for it to be considered perfectly competitive.
Discuss how these characteristics impact the firm in a perfectly competitive situation would decide how much to produce and charge.
What is the criteria the firm would use to decide how much to produce and charge?
How do these characteristics change if the market becomes a monopoly?
Does the method of deciding how much to produce and charge change when the market becomes a monopoly?
These questions are all one big assignment, I'm taking microeconomics and I just want to verify what I have is correct.
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