To compete is a nominal infinite, I believe.
The vES ending should be added to nouns that end in -f or -fe in their singular form. In that case, the -f or -fe is removed and -ves is added as a plural ending. Examples include: life - lives, wife - wives, knife - knives, wolf - wolves, leaf - leaves. But there are also exceptions, such as belief - beliefs, cliff - cliffs, roof - roofs.
