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Describe the importance of competition in markets

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Question 1. Describe the importance of competition in markets. How does a lack of competition affect prices and output? Describe what the role of government is in markets vis-a-vis firms in the market

Question 2. Describe the economic viewpoints and theories of John Maynard Keynes. What were his views of the causes recessions and solutions to fixing them? In his view, what place did government have to improve markets? What does the concept of "crowding out" mean in all of this?

Reference no: EM133390562

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