Class 12 Micro Economics - Chapter Non-competitive Markets NCERT Solutions | What would be the shape of the demand cu

List the three different ways in which oligopoly firms may have.

Will the monopolist firm continue to produce in the short run if a loss is incurred at the best short run level of output?

If duo poly behavior is one that is described by Cornet, the market demand curve is given by the equation q = 200 - 4p and both the firms have zero costs, find the quantity supplied by each firm in equilibrium and the equilibrium market price. 

Comment on the shape of MR curve in case when TR curve is a

(a) Positively sloped straight line

(b) Horizontal straight line

A monopoly firm has a total fixed cost of Rs 100 and has the following demand schedule:

Find the short run equilibrium quantity, price and total profit. What would be the equilibrium in the long run? In case the total cost is Rs.1000, describe the equilibrium in the short run and in the long run.

From the schedule provided below calculate the total revenue, demand curve and the price elasticity of demand:

If the monopolist firm of Exercise 3 was a public sector firm. The government set a rule for its manager to accept the government fixed price as given (i.e. to be a price taker and therefore behave as a firm in a perfectly competitive market). And the government has decided to set the price so that demand and supply in the market are equal. What would be the equilibrium price, quantity and profit in this case?

What is meant by prices being rigid? How can oligopoly behavior lead to such an outcome? 

Explain why the demand curve facing a firm under monopolistic competition is negatively sloped.

What is the value of the MR when the demand curve is elastic?

Explain the concept of a production function

Explain market equilibrium.

Discuss the central problems of an economy.

What are the characteristics of a perfectly competitive market?

What do you mean by the budget set of a consumer?

What is the total product of input?

When do we say that there is an excess demand for a commodity in the market?

What do you mean by the production possibilities of an economy?

How are the total revenue of a firm, market price, and the quantity sold by the firm related to each other?

What is budget line?

What do the short-run marginal cost, average variable cost and short-run average cost curves look like? 

What is the average product of an input? 

Discuss the central problems of an economy.

What do you mean by ‘monotonic preferences’?

Let the production function of a firm be Q=5L1/2K1/2Q=5L1/2K1/2 Find out the maximum possible output that the firm can produce with 100 units of LL and 100 units of KK.

What happens to the budget set if both the prices as well as the income double?

Suppose the price elasticity of demand for a good is – 0.2. If there is a 5 % increase in the price of the good, by what percentage will the demand for the good go down?

Compare the effect of shift in the demand curve on the equilibrium when the number of firms in the market is fixed with the situation when entry-exit is permitted.

Why is the short-run marginal cost curve 'U'-shaped? 

What is the total product of input?