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What are the characteristics of perfect competition

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What are the characteristics of perfect competition? Why do restaurants tend to display characteristics of perfect competition?

What are the long-run benefits of running a restaurant, considering its place in the perfect competition?

Under what conditions would a restaurant decide to be open on Mondays, and when would it decide not to be open on Mondays? When is losing money on Mondays still a good business decision

Reference no: EM13846471

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