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Question 2 Price Demand Quantity of Output Price Demand Quantity of Output You are given the above two Demand Curves. State and explain (using examples)

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Question 2 Price Demand Quantity of Output Price Demand Quantity of Output You are given the above two Demand Curves. State and explain (using examples) which Curve is for Competitive Firms and which for Monopoly Firms. Discuss in your answer the key difference between a competitive firm and a monopoly (the monopoly's ability to influence the price of its output). (30 marks)

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