Help me with Econs question please!?

Question

Starhub is the only broadcaster here to telecast 64 matches of the recent World Cup Finals. (2006) It charged corporate customers, such as pubs and coffee shops, at least $500 per TV set to broadcast these matches.

1. Explain how a firm such as Starhub may be able to change an artificially high price for its product?

2. A firm should be encouraged to maximise profits because this makes the firm efficient. Assess whether this argument is true for a firm operating in an imperfect market.

Give some points for my projects pls pls :D

Answer 1

1. because it is the only one, making it a monopoly.

2. firms in an imperfect market are inefficient.

they charge high prices and produce low output.

however these profits might help them to lower the prices in the long run.