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Short answer questions: 28. Name the barriers to entry that creates monopolies? (4 Marks: K/U: 2 Marks; C-2 Marks) 29. Use factors of elasticity to

Short answer questions:

28. Name the barriers to entry that creates monopolies? (4 Marks: K/U: 2 Marks; C-2 Marks) 29. Use factors of elasticity to explain, whether oil is an elastic or inelastic good? (4 Marks: K/U: 2 Marks; C-2 Marks)

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