Compare between perfect competition and monopoly, Microeconomics

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Question 1:

Compare and contrast between perfect competition and monopoly. Which of the two types of market structures is efficient?

Question 2:

Prepare a short notes on any of the following:

(a) Credit creation
(b) The concept of returns to scale
(c) Monetary and fiscal policy
(d) The income method of calculating national income
(e) Substitution and income effect of a price fall of a normal good

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