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8-1 Describe the market structure of perfect competition 1. (Market Structure) Define market structure. What factors are considered in determining the market structure of a

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8-1 Describe the market structure of perfect competition 1. (Market Structure) Define market structure. What factors are considered in determining the market structure of a particular industry? 2. (Perfect Competition Characteristics) Describe the characteristics of perfect competition. 3. (Demand Under Perfect Competition) What type of demand curve does a perfectly competitive firm face? Why

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