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a) Examine at least three (3) possible areas for the industry that could lead to transaction costs, and describe each in detail.
b) Speculate about the behaviour that could result from these transactions and propose at least two (2) strategies for dealing with them.
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#quUse a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labor:(a) an increase in immigration (b) more women
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A firm in a perfectly competitive product market takes the price of the product as given. Similarly, a firm in a perfectly competitive factor market takes the price of the factor
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