What is one important characteristic of perfect competition, Business Economics

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What is one important characteristic of perfect competition

a) What is one important characteristic of perfect competition?

b) What is the expected slope of the demand curve for a firm in perfect competition?

c) What characteristic of a monopoly will most likely ensure economic profit in the long run?

d) What is the main reason why economist objects to monopoly?

e) What is a sign that an industry might be oligopolistic?

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