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1- In a recent conversation a policy maker argued that since DEWA is monopolist, they are charging higher price and lower output is produced. He further mentioned that government should split the entire unit into small pieces so that competition can drive down prices. Do you agree with this statement? Explain your answer in few words. Provide a relevant diagram

2- A cosmetic firm operating in a monopolistically competitive market environment spends a lot of money in advertisement and ends up with super-normal profit even in long run. Is it possible? Explain your answer in few words

3- Etisalat and Du are duopolists Telecommunication companies in UAE. If they form a cartel between themselves, then what will happen to price and output in the market? Discuss your answer with a relevant diagram

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91236986

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