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Perfect and imperfect competition on the supply side (25) Draw a single diagram showing the perfectly competitive classical model and the wage setting / price

Perfect and imperfect competition on the supply side (25) Draw a single diagram showing the perfectly competitive "classical" model and the wage setting / price setting model. Discuss the differences between the two models in terms of

(a) Assumptions

(b) Methodology

(c) Implications, particularly the difference in response to a pandemic shock (you can focus on the shock's effect on supply chain).

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