Describe the significance and necessity of paid economic rent in the descriptions of normal and supernormal profits. 2. Describe to your knowledge the indication of the overall overview of the assumptions regarding the realism of perfect competition. 3. As an anomaly guideline and consideration, explain how exclusive dealing to supply and collective boycott affect the normal operation of business law. 4. How is Resale Price Maintenance (PRM) implemented to normalize monopolistic and competitive price fixing? 5. According to business law, in what area of inaccuracy does the introduction of cartels mimic the monopoly market? 6. As an argument for and against monopolies, from what point of view are economies of scale discussed? 7. Describe your general understanding of price differentiation as well as the inner details that govern it, particularly in light of the differences in business law. 8. Discard the WASTE IN IMPERFECT COMPETITION as opposed to convincing customers in a monopoly market. 9. How can an informal oligopoly market be considered an informal collusion according to business law? 10. What is the typical outcome for an oligopoly involving a low-cost company