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What are the possible advantages of free trade?
Firms
a) Specialisation and enhanced use of comparative advantage
b) Possibility of advantages of scale
c) Spread and knowledge of technology - production gains
d) Spread of skills and labour capital
e) Access to new/wider markets
a) Increased choice, i.e. variety
b) lower prices
c) overall consumer welfare (consumer surplus - outside of syllabus) in lower prices and increased consumption
d) Increase in standard of living
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Problem : (a) With reference to the characteristics of market structure, explain why the market for powdered milk in Mauritius is an appropriate example of monopolistic compet
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run a s monopoly how will this benefit stakeholders involved, such as the goverment, businesses, and consumers?
Lorie teaches singing.Herr fixed cost are $1000 a month,and it costs her $50 of labor to give one class.the table shows the demand schedule for lorie''s singing lessons. Price
#questioIn many metropolitan areas of the country, local governments often impose rent controls on apartments. The justification for doing so is that the current market rent is con
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