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What are the features of a perfectly competitive market structure? Please explain them. How do firms in a perfectly competitive market determine price and profit-maximizing

What are the features of a perfectly competitive market structure? Please explain them.

How do firms in a perfectly competitive market determine price and profit-maximizing output levels?

If you were the Chief Financial Officer of a large medical facility, a higher education institution, or an arts organization (select one to frame a response), what cost-cutting measures would you propose to address the excessive cost of operating the facility while maintaining the quality of services?

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