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What are the essential points to determine in monopoly?
Points essential to determine in monopoly:
a. The importance of monopoly, where a particular monopolist is the merely producer of a good
b. How a monopolist find out its profit-maximizing output and price
c. The dissimilarity between monopoly and perfect competition, and the consequences of which difference on society’s welfare
d. Problems posed through monopoly
e. What price discrimination is, and why this is so prevalent while producers have market power
Define Williamson''s Model of Managerial Discretion practice?
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NATIONAL INCOME ACCOUNTING This refers to the measuring of the total flow of output (goods and services) and of the total flow of inputs (factors of production) that pass thro
Causes of the Nigeria recession
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1. Define 'Arc Elasticity'. 2. Explain the law of 'Diminishing marginal returns'. 3. What is 'Prisoner's Dilemma', of non cooperative game? 4. What is 'Third degree Discrimation'?
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