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What actions could a government take in order to keep the price above market equilibrium? There are four basic possibilities here; 1) Minimum price; 2) A tax on the good
if a monopolist makes economic profits, new firms enter the market and compete with the monopolist in the long run.
Survey Methods: The most direct method of forecasting demand in the short run is survey method. Surveys are conducted to collect information about future purchase plans of the
what is bains theory ? describe with the diagram
3
typical assumptions
what makes it differ from other market structures
advantage dis advantage of pure monopoly
1. Describe why government regulation is required, citing the major reasons for government involvement in a market economy. 2. Justify the rationale for the intervention of gove
EXPLAIN KINKED DEMAND CURVE
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