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(a) A firm's profit maximisation problem can be depicted two different ways. Briefly explain these two methods in your own words and illustrate them on

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(a) A firm's profit maximisation problem can be depicted two different ways. Briefly explain these two methods in your own words and illustrate them on a diagram. (b) How is price elasticity related to profit? Explain with the aid of a diagram. (c) "In the final goods and services market consumers are not willing to pay more than the equilibrium price." Briefly explain whether you agree or disagree with this statement and why

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