Q1 A peculiar auto maker regards his concern as extremely competitory as he is keenly cognizant of his competition with other auto makers. Like others, he undertakes vigorous advertisement runs and seeks to convert possible purchasers of superior quality and better manner of his cars and reacts rapidly to claims of high quality by his challengers. Is this an illustration of monopolistic competition? Explain.
Q2 There are practically really few existent life cases of perfect competition. Even so it is problematic if these few illustrations run into all the standards of perfect competition. Which industry would you like to stipulate for perfect competition in the Indian scenario? Support your reply with relevant grounds.
Q3 The eating house concern comprises of several manufacturers selling differentiated merchandises priced otherwise harmonizing to quality, atmosphere, location and other factors. Which market construction characterizes this concern? Critically analyze your reply with appropriate logical thinking.
Q4 “ Kinked demand curve operates in the nomadic phone service supplier market. ” ( Airtel, TATA Docomo, Vodafone, Reliance etc. ) .Do you agree with this statement? Explain your reply critically giving grounds to back up your reply.
Q5 “ The Organization of Petroleum Exporting states ( OPEC ) comprising of seven Oil bring forthing Nations is an oligopoly. ” Do you hold with this statement? Analyze your reply giving grounds in support of your statement.
Q6 “ Perfect competition implies perfect airing of information about merchandises and pricing in the market ” . Give an illustration of a market from the existent universe where this could really go on.
Q7.What is the most of import ground for rise and spread of oligopolies in the planetary market such as banking and pharmaceuticals? Explain your reply with appropriate logical thinking.
Q8. Give an illustration of a monopoly from the Indian economic system. Do you believe that monopoly creates inefficiency in the market?
Q9. Explain if the undermentioned companies are a portion of perfect competition, monopolistic competition, monopoly or oligopoly. Give a ground to back up your reply.
( a ) Lovely professional University
( B ) State Bank of India
Q10. “ If I sell a aroma dressed ore which goes as natural stuff into industry of aromas, I could be a portion of perfect competition, but if I sell branded aromas, I could be a portion of monopolistic competition. ” Critically analyze this statement.
Q11. Give an illustration of an oligopoly from the Indian market.
Q12. “ The demand curve is absolutely elastic in perfect competition but downward sloping in monopolistic competition. ” Explain this statement taking illustrations from the existent universe.
Q13 Analyze if undermentioned companies are a portion of perfect competition, monopoly, monopolistic competition or oligopoly.
( a ) Google
( B ) Kingfisher Airlines
Q14 an addition in the demand for movies is likely to increase wages of histrions and actresses. Is long tally supply curve for movies likely to be horizontal or upward sloping?
Q15. Commodities are by and large portion of perfect competition but debut of trade names introduces monopolistic competition. Critically analyze this statement.
Ans1 yes, this is the perfect illustration of monopolistic competition.In the inquiry merchandising cost ( Advertisement ) is at that place for advancing the sale of the auto this the most of import characteristic of monopolistic competition and purchaser have imperfect cognition about merchandise that why advertizement is necessary and every manufacturer holding small different merchandise from other participant that ‘s why this is monopolistic competition.
Ans 2 Perfect competition is a market in which big figure of purchaser and Sellerss and manufacturer sold homogenious goods and house is monetary value taker.Agriculture industry ( such as cotton, oranges, apples ) in the microeconomic degree are the perfect illustration of perfect competition.in specific for say apple in jammu and Kashmir. No one marketer influence the market monetary value of apple if they do so so he holding the loss and losing the market portion.
Ans 3 The market of this sort of monopolistic because several manufacturer selling differnetiated merchandises and different monetary value on the footing of quality, atmosphere, location and the other factors.this is the indispensable characteristics of monopolistic competition.
Ans 4 yes, am agree with this statement because harmonizing to kinked demand curve each house faces a demand curve at exsisting price.the conjectral premises of the theoretical account are if the house raises it monetary value above the current monetary value comptetitors will non follow and the acting house will lose the market portion and 2nd if a house lower monetary values below.the exsisting monetary value so their market portion and house end product will increase marginally.
Ans 5 the Organization of Petroleum-Exporting Countries consisting seven oil states is an oligopoly. Yes I am agree with this statement because there is merely few oil bring forthing states and really big naumber of purchasers all around the universe.interdependce is besides at that place because oligopoly are typically composed of few seller.each house is holding important portion in market it affects the market monetary value.
Ans 6 in microeconomic degree this may go on for illustration agribusiness industry in j $ thousand monetary value of apple is fixes in all the province because consumers is holding the perfect cognition if the marketer attempt to increase the market monetary value so he will lose his market because the merchandise he is selling is homogenious.
Ans 7 the most of import ground for rise and spread of oligopoly in the planetary market is because of merely few participant in the market and participants is holding siginificant portion in the market and few participants can doing high net income because of high market share.in this market merchandise may homogeneious or differentiated.
Ans 8 Indian railroad is the best illustration of a monopoly in the Indian economy.there is no other subsitute of Indian railroad as the a majority bearer. Monopoly may make or may non make efficiency in the economic system because of Indian railroad is the chepest beginning of for traveling one topographic point to another place.sometimes monopoly can make inefficiency every bit good because by and large monopolizer can make monetary value discrimnation.
Ans 9 lovely professional university is a monopoly because it is in private owned means individual marketer and big Numberss of purchasers and lpu is independent determination devising and their other proper subsitute of lpu.
Sbi is the perfect competition because there is big Numberss of purchasers in all over the India and house are selling homogeneious merchandise and monetary value taker.
Ans 10 If I sell perfume dressed ore which goes as the stuff into maker of aromas, I could be a portion of perfect competition it means there is big Numberss of Numberss of purchasers and Sellerss and homogeneoius merchandise are sold and consumer is holding perfect cognition of merchandise. If I sell branded aromas so monopolistic competition will originate and merchandise may holding subsitutes and I promote my merchandise by doing selling cost.
Ans 11 car industry is a first-class illustration of oligopoly, where one can number figure of participants. in Indian car industry major participants are like maruti, hyundai, Toyota, and Ford are the illustration of oligopoly. Indian oil, ipcl, and hindustan crude oil are another set of illustration of oligopoly.in this instance auto, each marketer tries to differntiate to his merchandise by name, forms, and other characteristics.
Ans 12 in perfect competition the house is monetary value taker and monetary value is staying changeless so it will perfectely elastic and resturant, vesture, ceral, shes is the illustration of monopolistic competition and house is monetary value shaper that why demand curve slopes downward.
Ans 13 the close market of perfect competition would be the Google ( this used as a pure competition ) until Google grew really large and because there is big figure of purchasers and Sellerss and homogenous merchandise are to be sold at that place and perfect cognition is besides at that place.
Kingfisher air hoses are the illustration of oligopoly because there is merely few large marketer and big figure of purchasers and differented merchandises. Kingfisher a mutualist determination devising.
Ans 14 an addition in demand for movies is likely to increase wages of histrions and actresses. The the long tally supply curve for movies is to be horizontal and besides upward inclining because of displacement in demand curve towards right cause the consequence on both things.
Ans 15 commonity by and large portion of perfect competition but when debut of new trade name in the market so monopolistic competition will originate because introduce of new trade names means distinguishable characteristic of from other trade names and the house is bear down a monetary value for its quailty of his merchandise from his clients.