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...Principles of microeconomics e chapter perfect competition powerpoint image slideshow in farming depending upon the and prices offered a wheat farmer may choose to grow different crop credit modification work by daniel x o neil flickr creative commons why it matters market structure conditions an industry such as number sellers how easy or difficult is for new firm enter type products that are sold each faces many competitors sell identical criteria firms produce buyers available have all relevant information make rational decisions can leave without any restrictions price taker perfectly competitive must take prevailing given output has only one major decision what quantity accept its determined product s demand supply maximum profit will occur at where difference between total revenue cost largest...