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I have a business with the name Gross Hotel, suppose the market for my business suddenly becomes perfectly competitive. Indicate what happens to the demand

I have a business with the name "Gross Hotel", suppose the market for my business suddenly becomes perfectly competitive.

  1. Indicate what happens to the demand curve.
  2. Describe the perfectly competitive equilibrium price and quantity.
  3. Discuss the prospects for your small business in the long run.

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