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The perfectly competitive firm's demand curve is horizontal because:
Deductions
Amounts subtracted from gross income to determine taxable income, including expenses, exemptions, and allowances.
Long-Term Liabilities
Financial obligations of a business that are due more than one year in the future.
Current Liabilities
Debts or obligations that are due to be paid within one year or within the normal operating cycle.
Discount
A reduction applied to the regular price of products or services.
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