13.
14,
15.
16.
17.
18.
19.
20.
21.
22.
23.

25.
26.
27.
28.
29.
30.
31.
32.

3 D 43268

Part B (Very Short Answer Questions)

Answer any ten questions.
Each question carries 2 marks.

Define Social Cost.

Explain about market sharing cartels.

Explain natural monopoly.

What do you mean by price leader ?

What is meant by peakload pricing ?

What is meant by factor pricing ?

Define Duopoly.

Explain about horizontal demand curve.

Explain economic rent.

Explain implicit cost.

Define price discrimination.

What makes monopoly different from monopolistic competition ?

(10 x 2 = 20 marks)

Part C (Short Essay Questions)

Answer any six questions.
Each question carries 5 marks.

What are the important types of price discrimination ?
Differentiate between variable cost and fixed cost.
Explain about demand of a firm for a single variable factor in perfectly competitive market.
What are the important features of Oligopoly market ?
Analyse the conditions of long run equilibrium of industry under perfect competition.
Explain the marginal productivity theory of distribution.
Explain the modern approach to the theory of costs.
Examine various types of price leadership.
(6 x 5 = 30 marks)

Turn over