10.

Et:

12.

13.
14.
15.
16.
0
18.

Lerner’s Index is used to measure :
(a) Inflation. (b) Monopoly power.
(c) Terms of Trade. (d) Cost of Living.
Which of the following is not a feature of a perfect competitive market ?
(a) No Transport Cost.
(b) No Restriction on entry into market.
(c) Selling costs.
(6) Price taker.
Cartels are usually formed by firms in which of the following markets : '

(a) Monopolistic Competition. (b) Perfect Competition.
(c) Pure Competition. (d) Oligopoly.
In a perfect competitive market, the market demand for good X in the industry is :
(a) Avvertical line. (b) A Horizontal Straight line.
(c) An upward sloping curve. (d) A Hyperbola.

The marginal cost (MC) curve intersects the
(a) ATC and AFC curves at their minimum points.
(b) TC and AFC curves at their minimum points.
(c) ATC and AVC curves at their minimum points.
(9) ATC, AVC, and AFC curves at their minimum points.
A monopolistically competitive firm is able to influence the price of what it sells because of :
(a) Barriers to entry. (b) Economies of scale.
(c) Inelastic demand. ‘(d) Product differentiation.
(12 x % = 6 marks)
_ Part B (Very Short Answer Type Questions)

Answer any ten questions.
Each question carries 2 marks.

What is meant by Envelop Curve ?

Distinguish between pure competition and perfect competition.
Write a note on short run cost curves.

What is meant by duopoly ?

What is dumping ?

What are the features of an oligopolistic market ?