Question: QUESTION 1 What is the imperfect competition? Provide an example of a monopoly and an oligopoly from a sector that you are familiar with. What

QUESTION 1

What is the imperfect competition? Provide an example of a monopoly and an oligopoly from a sector that you are familiar with. What can governments do to address the market failure from the imperfect competition?

QUESTION 2

Explain the relationship between fiscal and monetary policy through the IS-LM curve. What should the monetary and fiscal authorities do to increase output? What are the potential conflicts between monetary and fiscal policy?

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