33.

34.

.35.

36.

4 D 43268
Part D (Essay Questions)

Answer any two questions.
Each question carries 12 marks.

Examine the price and output determination under monopoly market condition.
Briefly explain about the process of equilibrium in a perfectly competitive factor market.
Explain Sweezy’s kinked demand curve model of Oligopoly.
Comment on the predictions of the perfect competitive model in the following situations :

(a) Ashift in market demand.

(b) A shift in the costs following changes in factor prices.

(c) Imposition of a tax by the Government.

(2 x 12 = 24 marks)