(1a) Explain four benefits of specialization (b) Distinguish between the short run and long run as applied in economics (c) Explain four possible benefits of a perfect market (2a) Explain three features of oligopoly (b) Discuss six disadvantages of specialization (c) Discuss fully the three main st...

The detailed answer for the above question is provided below 1a Increased efficiency and productivity By specializing in a particular area individuals or organizations can become more efficient and pr ...

(1a) Explain four benefits of specialization. (b) Distinguish between the short run and long run as applied...

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(1a) Explain four benefits of specialization.

(b) Distinguish between the short run and long run as applied in economics.

(2a) Explain three features of oligopoly.

(b) Discuss six disadvantages of specialization.

Related Book For answer-question

Economics

ISBN: 978-0073375694

18th edition

Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn

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Posted Date: Mar 19, 2023 11:38 PM

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(1a) Explain four benefits of specialization. (b) Distinguish between the short run and long run as applied...

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The detailed answer for the above question is provided below 1a Increased efficiency and productivity By specializing in a particular area individuals or organizations can become more efficient and pr... View the full answer

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