can you please explain this

1.

Answer the following questions as true or false and explain

(i)Even when demand increases, firms in a perfectly competitive industry earn zero economic profit (normal profit) in the long run

(ii)Firms operating in a market structure characterised by monopolistic competition face little or no competition.

(iii) In an oligopoly, firms monitor closely the behaviour of their competitors

2.

a)

Suppose that after a lifetime of consuming fattening fast food every day, you develop heart disease. The government must pay most of your medical bills through the Medicare system. Is it correct to say that your consumption of unhealthy meals created no externalities? Might there be a justification here for the government to intervene in the market for fast food? Explain.

(b) explain whether each is an example of a negative production or negative consumption externality In both of the following cases, identify the type of externality that led policy-makers to implement regulations.

3. (a) Explain why goods provided by the government such as education, healthcare and public transport are not public goods.

1. Why won't the market provide public goods?
2. What policies can the government to ensure the provision of public goods?