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1. Explain the effects of price control on economic productivity. 2. What is the justification for public goods? ( i) Explain the meaning of externality.

1. Explain the effects of price control on economic productivity.

2. What is the justification for public goods? ( i) Explain the meaning of externality.

3Show the relationship between marginal costs and Average cost.

4.Demonstrate with graph when a firm in competitive industry should stop production in the short run.

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