Question: Q. No. 3 i. What is the difference between Perfect competition and Monopolistic Competition? Support your answer with appropriate market examples. ii. How price is

and Monopolistic Competition? Support your answer with appropriate market examples. ii. How

Q. No. 3 i. What is the difference between Perfect competition and Monopolistic Competition? Support your answer with appropriate market examples. ii. How price is determined under both structures of market, Perfect competition and Monopolistic Competition? Elaborate graphically. 111. If Operating Leverage ratio is higher, the more leveraged the firm is said to be. Elaborate with diagram. IV. Explain Break even analysis numerically and graphically

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