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22,
23.
24.

18.
19.
20,

- Briefly explain about the supply

8
Part B (Very Short Answer Questions )

Answer any ten questions.
Each question carries 2 marks.
- Define marginal Cost.
. What is envelope curve ?
. Explain profit maximisation
. Define market.
. What is dumping ?

What do you mean by imperfect competition ?
Explain Bilateral Monopoly.
What is meant by price leadership ?
Write a note on kinked demand curve.
Define profit.
Explain about factors of production.
Explain equilibrium price.
(10 x 2 = 20 marks)
Part C (Short Essay Questions)

Answer any six questions.
Each question carries 5 marks.

- Distinguish between marginal revenue product and value of marginal product.
+ Write a note on product differentiation.

- What are the important features of 77070001180 competition ?

What are the important sources of monopoly ?

curve of a firm and industry under Perfect competition.

Distinguish between pure competition and Perfect competition.

‘ween marginal cost and average cost,

- Why the long run average cost is U Shaped ?

(6 x & = 30 marks)

C 62664