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Q: Why monopsonist hires fewer workers than a firm in competitive labor market?
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How can countries within a competitive market benefit from trade agreements?

Countries with fewer restrictions can trade easily


How is a monopoly and a perfectly competitive firm similar?

A perfect competitive market and pure monopoly market both have to follow the "law of demand".


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Indian air fare is more expensive due to there being fewer airline options. With fewer airlines in operation the fares are not as competitive and tend to be pricey.


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