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1. How does a perfectly competitive firm maximize profit in the long run?

2. What is the impact of technological barriers to entry in a perfectly competitive market?

3. What is a defining characteristic of the long-run equilibrium for a perfectly competitive market?

4. How do strategic interactions among firms impact the idea of perfect competition?

5. What is the impact of a subsidy on a perfectly competitive market?

6. Why is the long-run supply curve perfectly elastic in a perfectly competitive market?

7. How does the elasticity of demand for a product impact the pricing strategy in perfect competition?

8. What is a key characteristic of the short-run production period for a perfectly competitive firm?

9. How does the mobility of resources contribute to the smooth functioning of perfect competition?

10. What characterizes a perfectly competitive market in terms of the number of firms?