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1. “The main reason why inefficiency occurs is profit. Perfectly competitive firms are efficient because they are making zero profit in the long run. If the government can impose regulation to make a monopolist earns zero profit, the monopolist can also be efficient”. Discuss the validity of this statement with suitable diagrams for a perfectly competitive firm and a monopolist.

ECO201E managerial economics

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Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

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InstructionsPart A: Economic SystemsPrepare a 2–3-page report  containing the following:1.Characterize the economies of the two target countries that you selected in Assignment 2. Are they centrally planned, mixed, or free market economies? Explain your decision.2.Using World Bank and or ...

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Q

 (1) Bloxham claimed that New Zealand “was the fastest growing of the 34 OECD economies in the last year”. State the latest annual growth rate available for New Zealand and Australia and work out how many years it would take for New Zealand’s per capita GDP to overtake that of ...

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a. Based on the determinants of price elasticity of demand, is demand for olive oil price elastic or inelastic? Explain your answer.     b. Based on your answer in Qs 3, explain the impact of a price rise on total revenue of olive oil producers.      &nbs ...

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Task: Question 1 illustrate in a diagram how Bruno would decide to use more robots in his firm to minimise production costs. Your diagram should have the number of workers on the horizontal axis and the number of robots on the vertical axis. It is not necessary to use specific numbers. Question 2 ...

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