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Please answer each question in one paragraph: 1) What types of firms would fall under the perfect competition market structure? Why? 2) Why does the

Please answer each question in one paragraph:

1) What types of firms would fall under the perfect competition market structure? Why?

2) Why does the profit opportunity in the short run differ from that of the long run?

3) Why would a firm want to shut down in the short run? What would be the advantage?

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