DISCUSSION 7: DISCUSSION ON LESSON 6 Perfect Competition in the Short Run and Long Run Instructions: Write your name, student ID, and section number clearly {writing the wrong section number will receive credit for this assign ment). : Complete all questions with handwriting only. : The submission deadline of this discussion assignment is at 11:59 pm. {Bangkok time} of the day when the discussion class of the section that you enroll is held. ND make-up nor late submission. Question 1 a. What are characteristics of perfect competition? [3. Why can't an individual firm raise its price by reducing output or lower its price to increase sales volume in a perfectly competitive market