Question: Using appropriate diagrams explain how a perfectly competitivefirm will maximize profits in the long run. Explain how a reductionin competition in the market will reduce

Using appropriate diagrams explain how a perfectly competitivefirm will maximize profits in the long run. Explain how a reductionin competition in the market will reduce consumer welfare. 2 answers

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Using appropriate diagrams explain how a perfectly competitive firm will maximize profits in the long run. Explain how a reduction in competition in the market will reduce consumer welfare

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Question 6 Using appropriate diagrams explain how a perfectly competitive firm will maximise profits in the long run. Explain how a reduction in competition in the market will reduce consumer welfare

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