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Q.3 Briefly answer the following questions with the help of examples where necessary a. Can a monopolist set the price whatever it wants to? b.

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Q.3 Briefly answer the following questions with the help of examples where necessary a. Can a monopolist set the price whatever it wants to? b. Why does a perfectly competitive firm cannot control the price? c. How perfectly competitive firm is different from monopolistic competitive firm? d. Give 2 examples of product that approximates oligopoly in Pakistan

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