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BUECO5903 Business Economics - Microeconomics Assignment

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Question 1:

(a) Illustrate and explain using diagrams how a single seller within the market can maintain an inefficient allocation of resources; (2.5 marks for the diagram plus 2.5 marks for the explanation)
(b) Are there any advantages to a single market seller and how do they compare to its perceived disadvantages. (2.5 marks for identifying advantages and 2.5 marks for identifying disadvantages)

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