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1. Considering your previous knowledge of monopolies and the nature of competition; how do monopolies hinder competition and why is it important for governments to take steps to limit this business practice? Please provide at least two examples.
Textbook pages: (151–154)
2. Considering your previous knowledge of the science behind the concepts of supply and demand; please explain how the concepts are interconnected and how one affects the other to achieve market equilibrium.
Textbook pages: (125-132)
Answers: 2
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