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This assignment is for Microeconomics course, given by Sunny Khurana at Manav Bharti University. It includes: Monopolistic, Competition, Oligopoly, Competitive, Elasticity, Affirm, Concentration, Ratio
Typology: Exercises
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Q1 .Compare the elasticity of the monopolistic competitor’s demand with that of a pure competitive and pure monopolists. Contrast the two market structures in terms of productive and alloctive efficiency. Explain “Monopolistically competitive industries are characterized by too many firms, each of which produces too little.”
Q2.Answer the following questions which to relate to measures of concentration:
Q3.Explain the general meaning of the following profit payoff matrix for oligopolists C and D. All profit figures are in thousands.
Q4. What assumption about a rival’s response to price changes underlie the kinked- demand curve for oligoplists? Why is there a gap in the oligopolist’s marginal-revenue
curve? How does the kinked-demand curve explain price rigidity in oligopoly? What are the shortcomings of the kinked-demand model?