Chapter 15
Monopolistic Competition
1. Monopolistic competition is associated with the name of
āĻāĻāĻেāĻিāϝ়া āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āύাāĻŽā§° āϏৈāϤে āϏāĻŽ্āĻĒā§°্āĻিāϤ
(a) Joan Rabinson
āĻোāύ ā§°াāĻŦিāύāĻāύ
(b) Marshall
āĻŽাā§°্āĻļ্āĻŦেāϞ
(c) Chamberlin
āĻেāĻŽ্āĻŦাā§°āϞিāύ
Answer: (c) Chamberlin (āĻেāĻŽ্āĻŦাā§°āϞিāύ)।
2. The number of sellers in case of monopolistic competition is
āĻāĻāĻেāĻিāϝ়া āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āĻ্āώেāϤ্ā§°āϤ āĻŦিāĻ্ā§°েāϤাā§° āϏংāĻ্āϝা āĻšৈāĻে
(a) One
āĻāĻ
(b) Two
āĻĻুāĻ
(c) Few
āĻিāĻু
(d) Many
āĻŦāĻšুāϤ
Answer: (d) Many (āĻŦāĻšুāϤ)।
3. Produts in case of monopolistic competition are
āĻāĻāĻেāĻিāϝ়া āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āĻ্āώেāϤ্ā§°āϤ āĻĒ্ā§°āĻĄুāĻāĻŦোā§° āĻšৈāĻে
(a) Identical
āĻ āĻিāύ্āύ
(b) Differentiated
āĻĒৃāĻĨāĻীāĻৃāϤ
(c) Neither of the two
āĻĻুāϝ়োāĻাā§° āĻোāύোāĻোā§ąেāĻ āύāĻšāϝ়
Answer: (b) Differentiated (āĻĒৃāĻĨāĻীāĻৃāϤ)।
4. The demand curves employed in case of monopolistic competition are
āĻāĻāĻেāĻিāϝ়া āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āĻ্āώেāϤ্ā§°āϤ āύিāϝ়োāĻিāϤ āĻাāĻšিāĻĻাā§° āĻŦāĻ্ā§°āĻŦোā§° āĻšৈāĻে
(a) Subjective
āĻŦিāώāϝ়āĻিāϤ্āϤিāĻ
(b) Market
āĻŦāĻাā§°
(c) Both
āĻĻুāϝ়োāĻা
Answer: (c) Both (āĻĻুāϝ়োāĻা)।
Very Short Answer Type Questions
1. What is monopolistic competition?
āĻāĻāĻেāĻিāϝ়া āĻĒ্ā§°āϤিāϝোāĻিāϤা āĻি?
Answer:
2. What is meant by product differentiation?
āϏাāĻŽāĻ্ā§°ীā§° āĻĒৃāĻĨāĻীāĻā§°āĻŖā§° āĻ ā§°্āĻĨ āĻি?
Answer:
3. What is non-price competition?
āĻŽূāϞ্āϝ āĻŦিāĻšীāύ āĻĒ্ā§°āϤিāϝোāĻিāϤা āĻি?
Answer:
4. What is the shape of demand curve under monopolistic competition?
āĻāĻāĻেāĻিāϝ়া āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āĻ āϧীāύāϤ āĻাāĻšিāĻĻা āĻŦāĻ্ā§°ā§° āĻāĻৃāϤি āĻি?
Answer:
5. Define group equilibrium?
āĻোāĻ āϏāύ্āϤুāϞāύ āύিā§°্āϧাā§°āĻŖ āĻā§°িāĻŦ āύেāĻি?
Answer:
6. What is subjective demand curve?
āĻŦ্āϝāĻ্āϤিāĻāϤ āĻাāĻšিāĻĻা āĻŦāĻ্ā§° āĻি?
Answer:
7. What is market demand curve?
āĻŦāĻাā§°ā§° āĻাāĻšিāĻĻা āĻŦāĻ্ā§° āĻি?
Answer:
8. Define product variation.
āϏাāĻŽāĻ্ā§°ীā§° āϤাā§°āϤāĻŽ্āϝ āύিā§°্āϧাā§°āĻŖ āĻā§°া।
Answer:
9. What are selling costs?
āĻŦিāĻ্ā§°ী āĻŦ্āϝāϝ় āĻিāĻŽাāύ?
Answer:
10. Define excess capacity.
āĻ āϤিā§°িāĻ্āϤ āĻ্āώāĻŽāϤা āύিā§°্āϧাā§°āĻŖ āĻā§°া।
Answer:
Short Answer Type Questions
1. Define monopolistic competition. What is its most prominent feature?
āĻāĻāĻেāĻিāϝ়া āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āϏংāĻ্āĻা āĻĻিāϝ়া। āĻāϝ়াā§° āĻāĻাāĻāϤāĻৈ āĻুā§°ুāϤ্āĻŦāĻĒূā§°্āĻŖ āĻŦৈāĻļিāώ্āĻ্āϝāĻো āĻি?
Answer:
2. What are heroic assumptions?
āĻŦীā§°āϤ্āĻŦāĻĒূā§°্āĻŖ āϧাā§°āĻŖাāĻŦোā§° āĻি?
Answer:
3. Explain briefly product differentiation.
āϏাāĻŽāĻ্ā§°ীā§° āĻĒাā§°্āĻĨāĻ্āϝ āĻāĻŽুāĻৈ āĻŦā§°্āĻŖāύা āĻā§°া।
Answer:
4. Distinguish between production costs and selling costs.
āĻā§āĻĒাāĻĻāύ āĻŦ্āϝāϝ় āĻā§°ু āĻŦিāĻ্ā§°ী āĻŦ্āϝāϝ়ā§° āĻŽাāĻāϤ āĻĒাā§°্āĻĨāĻ্āϝ āĻā§°া।
Answer:
5. What is excess capacity? How can it be measured?
āĻ āϤিā§°িāĻ্āϤ āĻ্āώāĻŽāϤা āĻিāĻŽাāύ? āĻāϝ়াāĻ āĻেāύেāĻৈ āĻোāĻা āϝাāϝ়?
Answer:
6. What are the wastes of monopolistic competition?
āĻāĻāĻেāĻিāϝ়া āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āĻ āĻĒāĻāϝ় āĻি?
Answer:
Long Answer Type Questions
1. What is production differentiation? How does it affect demand curve?
āĻā§āĻĒাāĻĻāύ⧰ āĻĒাā§°্āĻĨāĻ্āϝ āĻি? āĻ āĻাāĻšিāĻĻাā§° āĻŦāĻ্ā§°āĻ āĻেāύেāĻĻā§°ে āĻĒ্ā§°āĻাā§ąিāϤ āĻā§°ে?
Answer:
2. Explain the short run equilibrium of the firm under monopolistic competition?
āĻāĻāĻেāĻিāϝ়া āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āĻ āϧীāύāϤ āĻĢাā§°্āĻŽāĻোā§° āĻāĻŽু ā§°াāĻŖā§° āϏāύ্āϤুāϞāύ āĻŦ্āϝাāĻ্āϝা āĻā§°িāĻŦ āύেāĻি?
Answer:
3. How can long run equilibrium of the firm be determined under monopolistic competition?
āĻāĻāĻেāĻিāϝ়া āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āĻ āϧীāύāϤ āĻĒ্ā§°āϤিāώ্āĻ াāύāĻোā§° āĻĻীā§°্āĻāĻŽ্āϝাāĻĻী āϏāύ্āϤুāϞāύ āĻেāύেāĻৈ āύিā§°্āϧাā§°āĻŖ āĻā§°িāĻŦ āĻĒাā§°ি?
Answer:
4. Explain group equilibrium under monopolistic competition?
āĻāĻāĻেāĻিāϝ়া āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āĻ āϧীāύāϤ āĻোāĻāϏāύ্āϤুāϞāύ āĻŦ্āϝাāĻ্āϝা āĻā§°িāĻŦ āύেāĻি?
Answer:
5. Explain equilibrium with product variation.
āϏাāĻŽāĻ্ā§°ীā§° āϤাā§°āϤāĻŽ্āϝ⧰ āϏৈāϤে āϏāύ্āϤুāϞāύ āĻŦ্āϝাāĻ্āϝা āĻā§°া।
Answer:
6. Define selling costs? Distinguish between the selling costs and production costs.
āĻŦিāĻ্ā§°ী āĻŦ্āϝāϝ় āύিā§°্āϧাā§°āĻŖ āĻā§°িāĻŦ āύেāĻি? āĻŦিāĻ্ā§°ী āĻŦ্āϝāϝ় āĻā§°ু āĻā§āĻĒাāĻĻāύ āĻŦ্āϝāϝ়ā§° āĻŽাāĻāϤ āĻĒাā§°্āĻĨāĻ্āϝ āĻā§°া।
Answer:
7. Explain the equilibrium of a firm with selling costs.
āĻŦিāĻ্ā§°ী āĻŦ্āϝāϝ়ā§° āϏৈāϤে āĻĢাā§°্āĻŽ āĻāĻাā§° āϏāύ্āϤুāϞāύ āĻŦā§°্āĻŖāύা āĻā§°া।
Answer:
8. Explain clearly the concept of excess capacity.
āĻ āϤিā§°িāĻ্āϤ āĻ্āώāĻŽāϤাā§° āϧাā§°āĻŖাāĻো āϏ্āĻĒāώ্āĻāĻাā§ąে āĻŦā§°্āĻŖāύা āĻā§°া।
Answer:
9. Explain Chamberlin's concept of excess capacity.
āĻেāĻŽ্āĻŦাā§°āϞিāύ⧰ āĻ āϤিā§°িāĻ্āϤ āĻ্āώāĻŽāϤাā§° āϧাā§°āĻŖাāĻো āĻŦā§°্āĻŖāύা āĻā§°া।
Answer:
Very Long Answer Type Questions
1. What is meant by monopolistic competition? Explain its characteristics.
āĻāĻāĻেāĻিāϝ়া āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āĻ ā§°্āĻĨ āĻি? āĻāϝ়াā§° āĻŦিāĻļেāώāϤ্āĻŦāĻŦোā§° āĻŦā§°্āĻŖāύা āĻā§°া।
Answer:
2. What is product differentiation? Analyse its impact on demand and costs.
āϏাāĻŽāĻ্ā§°ীā§° āĻĒাā§°্āĻĨāĻ্āϝ āĻি? āĻাāĻšিāĻĻা āĻā§°ু āĻŦ্āϝāϝ়ā§° āĻāĻĒā§°āϤ āĻāϝ়াā§° āĻĒ্ā§°āĻাā§ą āĻŦিāĻļ্āϞেāώāĻŖ āĻā§°া।
Answer:
3. Explain the short and long run equilibrium of a firm under monopolistic competition.
āĻāĻāĻেāĻিāϝ়া āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āĻ āϧীāύāϤ āĻĢাā§°্āĻŽ āĻāĻাā§° āĻāĻŽু āĻā§°ু āĻĻীā§°্āĻāĻŽ্āϝাāĻĻী āϏāύ্āϤুāϞāύ āĻŦā§°্āĻŖāύা āĻā§°া।
Answer:
4. Explain the concept of group. How is group equilibrium determined under monopolistic competition?
āĻোāĻā§° āϧাā§°āĻŖাāĻো āĻŦā§°্āĻŖāύা āĻā§°া। āĻāĻāĻেāĻিāϝ়া āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āĻ āϧীāύāϤ āĻোāĻāϏāύ্āϤুāϞāύ āĻেāύেāĻĻā§°ে āύিā§°্āϧাā§°āĻŖ āĻā§°া āĻšāϝ়?
Answer:
5. Explain the subjective and market demand curves. How can you determine group equilibrium marking use of them?
āĻŦিāώāϝ়āĻিāϤ্āϤিāĻ āĻā§°ু āĻŦāĻাā§°ā§° āĻাāĻšিāĻĻাā§° āĻŦāĻ্ā§°āĻŦোā§° āĻŦā§°্āĻŖāύা āĻā§°া। āĻāĻĒুāύি āϏেāĻāĻŦোā§°ā§° āĻ্ā§°ুāĻĒ āĻুā§ąেā§°িāϝ়াāύ āĻŽাā§°্āĻিং āĻŦ্āĻ¯ā§ąāĻšাā§° āĻেāύেāĻĻā§°ে āύিā§°্āϧাā§°āĻŖ āĻā§°িāĻŦ āĻĒাā§°ে?
Answer:
6. What is product variation? Explain the equilibrium with product variation.
āϏাāĻŽāĻ্ā§°ীā§° āϤাā§°āϤāĻŽ্āϝ āĻি? āϏাāĻŽāĻ্ā§°ীā§° āϤাā§°āϤāĻŽ্āϝ⧰ āϏৈāϤে āϏāύ্āϤুāϞāύ āĻŦā§°্āĻŖāύা āĻā§°া।
Answer:
7. What are selling costs? Explain firm's equilibrium with selling costs?
āĻŦিāĻ্ā§°ী āĻŦ্āϝāϝ় āĻিāĻŽাāύ? āĻŦিāĻ্ā§°ী āĻŦ্āϝāϝ়ā§° āϏৈāϤে āĻĢাā§°্āĻŽā§° āϏāύ্āϤুāϞāύ āĻŦ্āϝাāĻ্āϝা āĻā§°িāĻŦ āύেāĻি?
Answer:
8. Explain clearly the concept of excess capacity.
āĻ āϤিā§°িāĻ্āϤ āĻ্āώāĻŽāϤাā§° āϧাā§°āĻŖাāĻো āϏ্āĻĒāώ্āĻāĻাā§ąে āĻŦā§°্āĻŖāύা āĻā§°া।
Answer:
9. What are the wastages involved in the case of monopolistic competition?
āĻāĻāĻেāĻিāϝ়া āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āĻ্āώেāϤ্ā§°āϤ āĻি āĻি āĻ āĻĒāĻāϝ় āĻāĻĄ়িāϤ āĻāĻে?
Answer:
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