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QUESTION THREE [25] 3.1 Assess the demand curves for firms operating in the following market structures: 3.1.1 Perfect competition (5) 3.1.2 Monopolistic competition (5) 3.1.3
QUESTION THREE [25] 3.1 Assess the demand curves for firms operating in the following market structures: 3.1.1 Perfect competition (5) 3.1.2 Monopolistic competition (5) 3.1.3 Monopoly (5) 3.2 Analyse the individual supply of labour curve. Choose the ONE correct diagram from below to apply to and substantiate your answer. (10) wage F w* Wage rate E N* number of Hours worked HE HG HF workers DIAGRAM A DIAGRAM B
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