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a) Factors that caused firms to operate at the sub-optimal level. ( 20 marks) b) Ways in which dominant firms might seek to deter potential

a) Factors that caused firms to operate at the sub-optimal level. ( 20 marks)

b) Ways in which dominant firms might seek to deter potential entrants into the industry.( 20 marks)

c) Under what circumstances can a firm successfully practice price discrimination( 20 marks)

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