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Part B

Very Short Answer Type Questions.
Answer any ten Questions.

Write a note on modern cost curves.
What is meant by duopoly ?
What are the degrees of price discrimination ?
What do you mean by reserve capacity of firms ?
What is meant by opportunity cost ?
Distinguish between economic cost and accounting cost.
What are the features of Perfect Competition ?
Write a note on Kinked Demand Curve.
What is derived demand ?
What is monopsony ?
Write a note on the dominant firm model of price leadership.
What do you mean by Economic rent of an input ?
(10 x 2 = 20 marks)
Part C

Short Essay Questions.
Answer any six questions.
Explain the features of Monopolistic Competition
Briefly explain Cournot’s duopoly क
Explain the nature of AR and MR curves faced by a monopoly.
Explain the important instances of market failure.
Explain the equilibrium conditions of monopoly market.
Explain the short run equilibrium conditions of monopolistic competition.
Explain the marginal productivity theery of factor price determination.
Explain the effects of advertising on profit in monopolistic competition.
(6 x 5 = 30 marks)

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