Page 2 - Home Assignment- Main Market Forms

b. Informative purpose
c. Promoting sales
d. All of these

10. State whether the following statement is true or false. 1
‘There is non-price competition under monopolistic

competition to attract consumers.”
(Short answer type questions-3/4 marks)
11. Explain any three features of Monopolistic competition 3
12. Why is a firm under perfect competition price taker? 3
13. Why is a demand curve under monopolistic competition 3
more elastic as compared to demand curve under
Monopoly?

14. Distinguish between collusive and non-collusive 3
oligopoly.
15. Why can a firm not earn abnormal profit under perfect 3
competition in the long run?

16. Why is the number of firms small in an Oligopoly 3
market

17. Explain the implication of ‘interdependence between 4
firms” under oligopoly.
18. Distinguish between Monopoly and Monopolistic 4
competition.
19. Explain the implication of ‘Homogeneous product” 4
under Perfect competition.
20. Explain the reasons for emergence of Monopoly. 4