Question-4: Define Indifference Curve and what are the main properties of Indifference Curve? By usi

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Question-4: Define Indifference Curve and what are the main properties of Indifference Curve? By using Indifference Curve analysis explain how the consumer attains maximum level of satisfaction?

Question-5: What is difference between Perfect Competition and Monopoly? Give main characteristics of perfectly competitive and monopolist markets. How output and profit level is determined in both of the markets?

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