Question: Please help me explain the questions in as much detail as possible and give examples (depending on the question's request). Thank you so much for

Please help me explain the questions in as much detail as possible and give examples (depending on the question's request). Thank you so much for supporting me.

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Question 1: 2 marks If only one airline serves a town, does a monopolyr exist? What about competition from other services? Question 2: 3 marks Suppose that you are an orange grower. Would you expect the demand for your orange to be more elastic or more inelastic? Why? Question 3. 2 marks Mr Han Cook says that marginal cost is just a funny name for average total cost. What do you think about this idea? Question 4. 3 marks How price reaches equilibrium? Give an example

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