Problem 1
What are the characteristics of monopoly?
Problem 1
Monopoly is a market structure, where there is a single seller of the good in the market with no close substitutes for the good.
Problem 2
What are the different types of monopoly? Discuss.
Problem 3
Under monopolistic competition in the short run, the firm may earn supernormal profits.
Problem 3
What are the different degrees of price discrimination? Discuss.
Problem 4
(a) Does a firm under monopolistic competition make profits in the long run? (b) What is excess capacity? Does it lead to wastage of the economy's scarce resources?
Problem 4
What are the characteristics of monopolistic competition? Discuss.
Problem 4
The proportionate demand curve of the firm depicts the demand for the good of one firm assuming that the other firms in the group do not change the price of their good.
Problem 5
Write short notes on the (a) Proportionate demand curve (b) Perceived demand curve
Problem 5
What are selling costs? How can a firm under monopolistic competition determine the optimum amount of selling costs that it should undertake such that its profits are maximized?
