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I need help with the following questions: 1. what is an example of industry that represents perfect competition and monopolistic competition? 2. what is the
I need help with the following questions:
1.what is an example of industry that represents perfect competition and monopolistic competition?
2.what is the shape of the demand curve, faced by a perfectly competitive firm? In other words, is it vertical, horizontal, or upward/downward sloping? Also,why is the demand curve have this type of shape using economic concepts and theory.
3.What is the profit-maximizing rule for a perfectly competitive firm?
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