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1. If price elasticity of demand for a product is estimated to be 1.89 which factors can impact the price elasticity of demand for that product and how can each be applied to achieve this elasticity coefficient.
2. Based on an elasticity coefficient of 1.89 explain how that product can producers use to increase their total revenue.
3. What are the characteristics of Duopoly.
4. What is a non price competition (show examples)
5. How can the government prevent possible abuse of market power created by firms within the industry.
6. Identify five examples of industries operating under conditions of monopolistic competition and outline any of their salient features.
7. Explain with the aid of a graph the short run equilibrium position of a firm operating in a monopolistic competitive market structure.
8. If a firm operating in the market for tertiary education and then following changes occur: a decrease in consumer income and an increase in the cost of providing tertiary tertiary services. with the aid of a graph explain the changes on the equilibrium price and equilibrium quantity
This document contains various important questions and their appropriate answers in the subject field of Economics.
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