Hi I need help with my micro economics class. PROMPT: Q 1) What is the price leadership model of Oligopoly pricing and what are its tactics? Q 2)" In monopolistically competitive markets, neither allocative nor productive efficiency is realized" explain Q 3) Do you agree that companies under monopolistic competition can have a profit in the long run? If yes, why? if no, why not? Q 4) Compare MPP (marginal Physical product of labor) and MRP (marginal revenue product of labor). Can you relateMRPwithLabor Deamnd curve? Q 5) In kinked demand curve of Oligopoly, if a company increases its price, how do its competitors react? If a company cuts its price, how do its competitors react