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a. What type of market structure does the firm operating in? Why? (2 marks) b. State the profit maximizing price and output for the firm.
a. What type of market structure does the firm operating in? Why? (2 marks) b. State the profit maximizing price and output for the firm. (2 marks) C. Calculate the amount profit/loss made by the firm. (4 marks) d. List FOUR (4) characteristics of the firm in this market structure. (2 marks) (Total: 10 marks)
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