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QUESTION
a) State and explain the assumptions of a perfectly competitive market.
b) Analyse the effects on the firm's profit and output of an increase in demand in the short run and long run.
c) Explain with the use of appropriate diagrams the extent to which the existence of barriers to entry can make long-run equilibrium for a firm, operating under monopolistic competition, differ from that of a perfectly competitive firm.
How could the quality culture behaviours be applied in a hospital? The total quality management approach and culture are extremely readily applied to a hospital. Usually, peopl
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Is population growth a problem? Quick population growth is a main cause of poverty and arises where population growth go beyond the rate of economic growth. Standards of liv
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