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Question:
i) Explain the main problems with government intervention.
ii) Why and how do governments seek to control monopolies?
iii) A country should specialise in the production of the good in which it has the lowest opportunity cost. Discuss.
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Problems relating to national income estimation: Changing prices of goods and services . Prices of goods and services do change from one period to another. This makes compari
#question.contrast the long run equilibrium position of monopolistic competition firm and oligopoly.
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Sources of external economies of scale: Economies of Skilled Labour: This involves upgrading the skills of labour through the provision of education and training faci
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