1) List and briefly explain the features of a perfectly competitive market structure2) How do firms in a perfectly competitive market determine price and profit-maximizing output3) The response should be framed around this scenario: Imagine that you are the Chief Financial Officer of a large medical facility. What cost cutting measures would you propose to address the excessive cost of operating the facility while maintaining the quality of services?Please include Essential Foundations of Economics, 8th edition by Bade &Parkin as one of the sources.
