Homework answers / question archive / Why is a higher-than-normal GDP growth rate accompanied by rise in inflation and fall in unemployment? b) Explain with the reason and graph, the price elasticity of demand in case of i) Perfect competition vis-à-vis the monopoly ii) Monopolistic vis-à-vis the Monopoly? [2+2]

Why is a higher-than-normal GDP growth rate accompanied by rise in inflation and fall in unemployment? b) Explain with the reason and graph, the price elasticity of demand in case of i) Perfect competition vis-à-vis the monopoly ii) Monopolistic vis-à-vis the Monopoly? [2+2]

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Why is a higher-than-normal GDP growth rate accompanied by rise in inflation and fall in unemployment? b) Explain with the reason and graph, the price elasticity of demand in case of i) Perfect competition vis-à-vis the monopoly ii) Monopolistic vis-à-vis the Monopoly? [2+2]