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Part 3 : Microeconomics Question 3 : Scenario: Imagine you are a consultant advising a firm that is currently operating at a loss. Discuss the

Part $3$ : Microeconomics

Question $3$ :

Scenario: Imagine you are a consultant advising a firm that is currently operating at a loss. Discuss the various strategies the firm could employ to improve its economic profits in the long run. Consider both cost $-$ cutting measures and revenue $-$ enhancing strategies.

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