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Business Economics–I Semester II (2012-13)
Module 1: Market Structure
1. What is meant by a firm’s equilibrium? Explain the condition of short run equilibrium of firms under perfect competition. 2. Explain the various features of a perfectly competitive market. How is the price of a commodity determined under it? 3. What is meant by a firm’s equilibrium? Explain the condition of short run equilibrium of firms under perfect competition. 4. Explain short run equilibrium under perfect competition. 5. Explain how a firm attains equilibrium in the long run. 6. “In the long run period of time under perfect competition, equilibrium of firms and industry is achieved at normal profit”. Elucidate. 7. “In the short run firm under perfect competition may or may not earn supernormal profit”. Explain. 8. What is monopoly? Explain the three conditions necessary for the existence of monopoly. 9. What are the sources of monopoly power? 10. Explain the short run and long run equilibrium of a monopoly firm. 11. How does a monopoly firm attain equilibrium under different cost conditions? 12. “In the sort run monopoly may or may not earn supernormal profit”. Explain. 13. What is monopolistic competition? Explain the important features of monopolistic competition. 14. Distinguish between production cost and selling cost. 15. What is oligopoly? Explain the important features of oligopoly. 16. Explain the concept of kinked demand curve
Module 2: Pricing Practices and Market Failure
1. What are the objectives of pricing policy? 2. Explain the method of cost-plus pricing. What is its limitation? 3. Define price discrimination. 4. Under what condition is price discrimination possible and profitable? 5. Explain how a discriminating monopolist would attain equilibrium? 6. Using a diagram
Business Economics–I Semester II (2012-13)
Module 1: Market Structure
1. What is meant by a firm’s equilibrium? Explain the condition of short run equilibrium of firms under perfect competition. 2. Explain the various features of a perfectly competitive market. How is the price of a commodity determined under it? 3. What is meant by a firm’s equilibrium? Explain the condition of short run equilibrium of firms under perfect competition. 4. Explain short run equilibrium under perfect competition. 5. Explain how a firm attains equilibrium in the long run. 6. “In the long run period of time under perfect competition, equilibrium of firms and industry is achieved at normal profit”. Elucidate. 7. “In the short run firm under perfect competition may or may not earn supernormal profit”. Explain. 8. What is monopoly? Explain the three conditions necessary for the existence of monopoly. 9. What are the sources of monopoly power? 10. Explain the short run and long run equilibrium of a monopoly firm. 11. How does a monopoly firm attain equilibrium under different cost conditions? 12. “In the sort run monopoly may or may not earn supernormal profit”. Explain. 13. What is monopolistic competition? Explain the important features of monopolistic competition. 14. Distinguish between production cost and selling cost. 15. What is oligopoly? Explain the important features of oligopoly. 16. Explain the concept of kinked demand curve
Module 2: Pricing Practices and Market Failure
1. What are the objectives of pricing policy? 2. Explain the method of cost-plus pricing. What is its limitation? 3. Define price discrimination. 4. Under what condition is price discrimination possible and profitable? 5. Explain how a discriminating monopolist would attain equilibrium? 6. Using a diagram