Market Power and Monopoly

Q. An important form of price fixation under oligopoly is known as __________.

1. price leadership
2. collusive oligopoly
3. courtnot model
4. kinked demand curve

Q. Consider the following statements :
1. monopoly represents a single seller
2. monopoly product has no substitute
3. monopoly has barriers to entry
4. monopoly represents firm and industry

1. 1 alone is correct
2. 1 and 2 are correct
3. 1, 2 and 3 are correct
4. All are correct

Q. Obsolescence of a depreciable asset may be caused by
(I) Technological changes.
(II) Improvement in production method.
(III) Change in market demand for the product or service output.
(IV) Legal or other restrictions.
The correct option is -

1. Only (I) above
2. Both (I) & (II) of the above
3. All (I), (II), (III) & (IV) of the above
4. Only (IV) of the above

Q. Price discrimination is possible under monopoly. Explain.

Q. Write short note on 'features of monopoly'.

Q. In which form of the market structure is the degree of control over the price of its product by a firm very large?

1. Imperfect Competition
2. Oligopoly
3. Perfect competition
4. Monopoly

Q. Write short answers for the following:
State the important features of Sole Trading Concern.

Q. Interplay of market forces refers to __________.

1. government regulations
2. demand and supply
3. intensity of consumer demand and patience of supplier
4. all the the above

Q. A monopolist is able to maximise his profits when ____________.

1. his outputs is maximum.
2. he charges a high price.
3. his average cost is minimum.
4. his marginal cost is equal to marginal revenue.