The perfectly competitive firm takes its quantity as given by the market, and then selects the profit-maximizing price.
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Q113: The perfectly competitive firm chooses a quantity
Q114: When the perfectly competitive firm is making
Q115: The perfectly competitive firm will shut down
Q116: The breakeven point is the one at
Q117: If the firm shuts down immediately, its
Q119: The additional revenue taken in by a
Q120: In perfect competition, the larger firms will
Q121: In perfect competition, the smaller firms will
Q122: The perfectly competitive firm maximizes profit by
Q123: In the long run, the perfectly competitive
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