Question: THIS IS A 6 PART QUESTION. DO NOT GET YOUR ANSWERS FROM GOOGLE BECAUSE I WILL FIND OUT. 1 Define a competitive market? 2 Explain

THIS IS A 6 PART QUESTION. DO NOT GET YOUR ANSWERS FROM GOOGLE BECAUSE I WILL FIND OUT.

THIS IS A 6 PART QUESTION. DO NOT GET YOUR

1 Define a competitive market? 2 Explain the reason why in a competitive market companies must set their prices equal to the market marginal cost? 3 Give an example of a competitive market where three information companies compete for their customers 4 Define a monopoly 5 Discuss three advantages of a monopoly 6 Define deadweight loss

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