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Question:
(a) Differentiate between the characteristics of a perfectly competitive market and those of a monopoly market structure.
(b) To what extent is a monopoly market superior to that of a perfectly competitive one?
(c) Describe how an oligopolist can decide on the price of its products under the different pricing strategies.
types of demand
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Why is human capital so important in the development process? Explain human capital in terms of (the sum of) education/training/experience/ literacy etc, and clearly show how t
#question.explain three neccessary condition to achieve pareto efficiency.
Define the concept of cross elasticity of demand
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