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What is meant by price discrimination ?

What is Kinked Demand Curve ?

What is Marginal Revenue Product ?

Distinguish between explicit cost and implicit costs ?
What is meant by cartels ?

What do you mean by Economic rent of an input ?

C 24795

(10 x 2 = 20 marks)

Part C (Short Essay Questions)

Answer any six questions.
Each question carries 5 marks.

Explain about various types of long run costs curves.
Briefly the product exhaustion theorem.

Explain the market demand curve for inputs.
Explain the price leadership model of oligopoly.
Explain the features of monopolistic competition.
Discuss the measures to regulate the monopoly.
Distinguish between Monopsony and Monopoly ?
Briefly explain the Cournot’s Model of Duopoly.

(6 x 5 = 30 marks)

Part D (Essay Questions)

Answer any two questions.
Each question carries 12 marks.

Explain how a multi-plant monopolist firm makes its output decisions.
Explain the nature of short run and long run cost curves.

Explain the Price and Output determination in collusive oligopoly.
Explain the determination of wage under perfect competition.

(2 x 12 = 24 marks)