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Monopolies are firms who dominate the market. A monopolist is a price maker as opposed to a price taker. 1. Discuss with appropriate EXAMPLEs the

Monopolies are firms who dominate the market. A monopolist is a price maker as opposed to a price taker.

1. Discuss with appropriate EXAMPLEs the ADVANTAGES and DISADVANTAGES of monopolies (10 marks essay question)

2. Explain ways in which government can respond to the inefficiencies caused by monopolies (10 marks essay question)

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