Question 1b- Microeconomics Politicians in South Africa and other developing economies have constantly debated the relevance of monopolies in the different sectors of the economy. One aspect that constantly emerges is the abuse of power by monopolies. As a business economist, your role is to advise the economic planning commission of your country. If there is a case of a natural monopolist, which is suspected of abusing its market power, what possible remedies short of full-scale nationalisation will you recommend? On what economic grounds can the policy of privatisation be justified? (Approx. 3 pages) Note: A maximum of 15 marks will be awarded for remedies on abuse of power and another 15 marks will be awarded for economic ground of privatisation