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Answer the following questions 1. Entry of new firms is blocked in oligopoly. Is this statement true, or false? ( 1 mark ) 2. What

Answer the following questions

1. Entry of new firms is blocked in oligopoly. Is this statement true, or false? (1 mark)

2. What is the source of monopoly in monopolistic competition? (1 mark)

3. What is meant by the third-degree price discrimination? (1 mark)

4. In what respects is perfect competition better than monopoly? (2 marks)

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