Question: Is monopoly market structure both productively efficient and resource allocative efficient. If yes or no explain with diagram. 2. Is monopoly market structure both productively

Is monopoly market structure both productively efficient and resource allocative efficient. If yes or no explain with diagram.

2. Is monopoly market structure both productively efficient and resource allocation efficient. If yes or no explain with diagram. (10 ) 3. Draw the following graphs and explain the scenario where, (10) a. Perfectly competitive firm that is earning profits and continues to operate. b. Perfectly competitive firm suffers loss and decides to shut down. 4. Draw the diagram showing and identifying excess capacity enjoyed by which firm and also highlight the point at which excess capacity persists. Why is this excess capacity? 10

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