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please give proper explanation b. A firm under monopolistic competition is a price maker. Explain how price is determined under monopolistic competition. [7 MARKS] c.

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please give proper explanation

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b. "A firm under monopolistic competition is a price maker". Explain how price is determined under monopolistic competition. [7 MARKS] c. Explain the difference between an Explicit Cost and an Implicit Cost (6 Marks)

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