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what is non- collusioligopoly and how its price and output is determined
1. Describe why government regulation is required, citing the major reasons for government involvement in a market economy. 2. Justify the rationale for the intervention of gove
what is the langrangian function
Direct and Indirect Benefits Life time earnings of an educated person is an instance of direct benefit from education. Skills produced in training or extension programmes in a
Define why prices is significant for economy Reason for using different weights is that some prices are more significant than others for economy. Price of gasoline, for instanc
Ways in which the markets fail and discuss why government intervention is justified and whether government intervention works or not.
Using the key distinguishing features of any market structure describe the market structure for the South African mobile telecommunications industry
What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities?
what is a perfect competition and how does it differ from monopoly?
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