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What are the significant tools of the perfect competition and the supply curve?
Perfect Competition and the Supply Curve:
a. In Perfect competition the characteristics of a absolutely competitive industry
b. How a price-taking producer verifies its profit-maximizing quantity of output
c. Earnings and why an unprofitable producer may carry on to operate within the short run
d. Difference between short run and the long run behavior of industries
e. Industry supply curve within the short and the long run
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what does it mean?
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