Question
a)Distinguish between perfect competition and monopoly(8 Marks) b)With the aid of a diagram, illustrate each of the following for a firm in perfect competition; i.Profit
a)Distinguish between perfect competition and monopoly(8 Marks)
b)With the aid of a diagram, illustrate each of the following for a firm in perfect competition;
i.Profit making firm(4 Marks)
ii.Loss making firm(4 Marks)
iii.Neither making profit nor loss(4 Marks)
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The Macro Economy Today
Authors: Bradley R. Schiller, Karen Gebhardt
14th edition
1259291820, 978-1259291821
