What are the characteristics of perfect competition

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What are the characteristics of perfect competition?  

Why does this type of fast-food restaurant tend to display characteristics of perfect competition?

Imagine you are running a firm with the characteristics of a perfectly competitive firm.  Describe how your firm would maximize its short-run profits.

Reference no: EM131161967

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What are the characteristics of perfect competition : What are the characteristics of perfect competition? Why does this type of fast-food restaurant tend to display characteristics of perfect competition?
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