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Question:
(a) With reference to the characteristics of market structure, describe why the market for powdered milk in Mauritius is an appropriate example of monopolistic competition while the soft drink industry an appropriate example of oligopoly.
(b) Using appropriate diagrams, explain how a firm under monopolistic competition reaches equilibrium in the short run and in the long run.
(c) Describe the different pricing strategies of firms under oligopoly.
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Assume you see that two macroeconomic variables are correlated with each other. But you want to know if there's an underlying or causal relationship between the two variables. Wo
Fixed input and variable input: A fixed input is that input whose quantity cannot be varied in the short-run when demand conditions require an increase or a decrease in produc
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In year one, suppose the federal government has no national debt and spends $100 billion, while raising only $50 billion in taxes. The U.S. Treasury will issue $ billion of governm
If a person literally had “nothing else to do,” (a) What would be the opportunity cost of doing this homework?
plese give me supply assigement
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