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(a) Basic economic problem is all about scarcity, rational choices and opportunity cost. Explain how these concepts are interrelated. [ 8 Marks]

(b)Identify any five determinants of the demand for any good/service of your own choice in Mauritius. Explain how each determinant is likely to influence the demand of the good/service that you have chosen.  [10 Marks]

(c) Is the monopoly in the public interest? Discuss with the help of a diagram. [12 Marks]