Chapter 14
Monopoly
Multiple Choice Questions
1. In monopoly market, the number of sellers is
āĻāĻāĻেāĻিāϝ়া āĻŦāĻাā§°āϤ, āĻŦিāĻ্ā§°েāϤাā§° āϏংāĻ্āϝা āĻšৈāĻে
(a) One
āĻāĻ
(b) Two
āĻĻুāĻ
(c) Few
āĻিāĻু
(d) Large
āĻĄাāĻā§°
Answer: (a) One (āĻāĻ)।
2. Monopolist can secure excess profit in the
āĻāĻāĻেāĻিāϝ়া āϏāĻāϞে āĻ āϤিā§°িāĻ্āϤ āϞাāĻ āϏুā§°āĻ্āώিāϤ āĻā§°িāĻŦ āĻĒাā§°ে
(a) Short-run
āĻāĻŽু-ā§°াāĻŖ
(b) Long-run
āĻĻীā§°্āĻāĻŽ্āϝাāĻĻী
(c) Both short and long-run
āĻুāĻি āĻā§°ু āĻĻীā§°্āĻāĻŽ্āϝাāĻĻী āĻĻুāϝ়োāĻা
Answer: (c) Both short and long-run (āĻুāĻি āĻā§°ু āĻĻীā§°্āĻāĻŽ্āϝাāĻĻী āĻĻুāϝ়োāĻা)।
3. The monopoly equilibrium is determined of that part of the demand curve where Ep is
āĻāĻāĻেāĻিāϝ়া āϏāύ্āϤুāϞāύ āĻাāĻšিāĻĻা āĻŦāĻ্ā§°ā§° āϏেāĻ āĻ ংāĻļā§° āĻĒā§°া āύিā§°্āϧাā§°āĻŖ āĻā§°া āĻšāϝ় āϝ'āϤ āĻāĻĒি āĻāĻে
(a) Less than unity
āĻāĻāϤাāϤāĻৈ āĻāĻŽ
(b) More than unity
āĻāĻāϤাāϤāĻৈ āĻ āϧিāĻ
(c) Equal to unity.
āĻāĻāϤাā§° āϏāĻŽাāύ।
Answer: (b) More than unity (āĻāĻāϤাāϤāĻৈ āĻ āϧিāĻ)।
4. The relationship between the degree of monopoly power and the price elasticity of demand is
āĻāĻāĻেāĻিāϝ়া āĻļāĻ্āϤিā§° āĻŽাāϤ্ā§°া āĻā§°ু āĻাāĻšিāĻĻাā§° āĻŽূāϞ্āϝ āϏ্āĻĨিāϤিāϏ্āĻĨাāĻĒāĻāϤাā§° āĻŽাāĻā§° āϏāĻŽ্āĻĒā§°্āĻ āĻšৈāĻে
(a) Inverse
āĻŦিāĻĒā§°ীāϤ
(b) Direct
āĻĒ্ā§°āϤ্āϝāĻ্āώ
(c) Zero
āĻļূāύ্āϝ
Answer: (a) Inverse (āĻŦিāĻĒā§°ীāϤ)।
5. The necessary condition for profitable price discrimination is that the price elasticity of demand in the different markets should be
āϞাāĻāĻāύāĻ āĻŽূāϞ্āϝ āĻŦৈāώāĻŽ্āϝ⧰ āĻŦাāĻŦে āĻĒ্ā§°āϝ়োāĻāύীāϝ় āĻā§°্āϤ āĻো āĻš'āϞ āĻŦিāĻিāύ্āύ āĻŦāĻাā§°āϤ āĻাāĻšিāĻĻাā§° āĻŽূāϞ্āϝ āϏ্āĻĨিāϤিāϏ্āĻĨাāĻĒāĻāϤা āĻš'āĻŦ āϞাāĻে
(a) Exactly equal
āĻ িāĻ āϏāĻŽাāύ
(b) Different
āĻŦেāϞেāĻ
(c) Neither of the two
āĻĻুāϝ়োāĻাā§° āĻোāύোāĻোā§ąেāĻ āύāĻšāϝ়
Answer: (b) Different (āĻŦেāϞেāĻ)।
Very Short Answer Type Questions
1. Define monopoly.
āĻāĻāĻেāĻিāϝ়া āϏংāĻ্āĻা āĻĻিāϝ়া।
Answer:
2. What are the types of monopoly?
āĻāĻāĻেāĻিāϝ়া āĻāϧিāĻĒāϤ্āϝ⧰ āĻĒ্ā§°āĻাā§° āĻŦোā§° āĻি?
Answer:
3. Point out any two sources of monopoly power.
āĻāĻāĻেāĻিāϝ়া āĻļāĻ্āϤিā§° āϝিāĻোāύো āĻĻুāĻা āĻā§āϏ āĻĻেāĻুā§ąাāĻāĻ।
Answer:
4. State the condition for equilibrium in case of multi-plant monopoly.
āĻŽাāϞ্āĻি-āĻĒ্āϞাāĻŖ্āĻ āĻāĻাāϧিāĻĒāϤ্āϝ⧰ āĻ্āώেāϤ্ā§°āϤ āϏāύ্āϤুāϞāύ⧰ āϏ্āĻĨিāϤি āĻāϞ্āϞেāĻ āĻā§°া।
Answer:
5. What is meant by degree of monopoly power?
āĻāĻāĻেāĻিāϝ়া āĻļāĻ্āϤিā§° āĻĄিāĻ্ā§°ীā§° āĻ ā§°্āĻĨ āĻি?
Answer:
6. State lerner's measure of degree of monopoly power.
ā§°াāĻ্āϝিāĻ āϞাā§°্āĻŖাā§°ā§° āĻāĻāĻেāĻিāϝ়া āĻļāĻ্āϤিā§° āĻĒā§°িāĻŽাāĻŖ।
Answer:
7. Define discriminating monopoly.
āĻŦৈāώāĻŽ্āϝāĻŽূāϞāĻ āĻāĻāĻেāĻিāϝ়া āĻāϧিāĻĒāϤ্āϝ āύিā§°্āϧাā§°āĻŖ āĻā§°া।
Answer:
8. What is the condition for equilibrium under price discrimination?
āĻŽূāϞ্āϝ āĻŦৈāώāĻŽ্āϝ⧰ āĻ āϧীāύāϤ āϏāύ্āϤুāϞāύ⧰ āĻā§°্āϤ āĻি?
Answer:
9. What is dumping?
āĻĄাāĻŽ্āĻĒিং āĻি?
Answer:
10. Define monopoly.
āĻāĻāĻেāĻিāϝ়া āϏংāĻ্āĻা āĻĻিāϝ়া।
Answer:
11. What is the meaning of bilateral monopoly?
āĻĻ্āĻŦিāĻĒাāĻ্āώিāĻ āĻāĻāĻেāĻিāϝ়া āĻāϧিāĻĒāϤ্āϝ⧰ āĻ ā§°্āĻĨ āĻি?
Answer:
Short Answer Type Questions
1. Give two features of monopoly.
āĻāĻāĻেāĻিāϝ়া ā§° āĻĻুāĻা āĻŦিāĻļেāώāϤ্āĻŦ āĻĻিāϝ়া।
Answer:
2. Explain briefly legal monopoly and social monopoly.
āĻāĻŽুāĻৈ āĻāĻāύী āĻāĻāĻেāĻিāϝ়া āĻā§°ু āϏাāĻŽাāĻিāĻ āĻāĻāĻেāĻিāϝ়া āĻāϧিāĻĒāϤ্āϝ āĻŦ্āϝাāĻ্āϝা āĻā§°া।
Answer:
3. Is monopoly price always a high price?
āĻāĻāĻেāĻিāϝ়া āĻŽূāϞ্āϝ āϏāĻĻাāϝ় āĻāĻ্āĻ āĻŽূāϞ্āϝ āύেāĻি?
Answer:
4. How can you measure degree of monopoly power through price elasticity of demand criterion and cross elasticity of demand criterion?
āĻাāĻšিāĻĻাā§° āĻā§°্āϤ⧰ āĻŽূāϞ্āϝ āϏ্āĻĨিāϤিāϏ্āĻĨাāĻĒāĻāϤা āĻā§°ু āĻাāĻšিāĻĻাā§° āĻā§°্āϤ⧰ āϏ্āĻĨিāϤিāϏ্āĻĨাāĻĒāĻāϤাā§° āĻā§°িāϝ়āϤে āĻāĻĒুāύি āĻেāύেāĻৈ āĻāĻāĻেāĻিāϝ়া āĻļāĻ্āϤিā§° āĻĒā§°িāĻŽাāĻŖ āĻোāĻা āϝাāϝ়?
Answer:
5. What are the forms of price discrimination?
āĻŽূāϞ্āϝ āĻŦৈāώāĻŽ্āϝ⧰ āĻĒ্ā§°āĻাā§°āĻŦোā§° āĻি?
Answer:
6. What are the degrees of price discrimination?
āĻŽূāϞ্āϝ āĻŦৈāώāĻŽ্āϝ⧰ āĻĄিāĻ্ā§°ীāĻŦোā§° āĻি?
Answer:
7. Can monopolist control both supply and price at the same time?
āĻāĻāĻেāĻিāϝ়া āϏāĻāϞে āĻāĻে āϏāĻŽāϝ়āϤে āϝোāĻাāύ āĻā§°ু āĻŽূāϞ্āϝ āĻĻুāϝ়োāĻা āύিāϝ়āύ্āϤ্ā§°āĻŖ āĻā§°িāĻŦ āĻĒাā§°েāύে?
Answer:
8. State the condition for monopsony equilibrium.
āĻŽāύোāĻĒāĻāύী āϏāύ্āϤুāϞāύ⧰ āϏ্āĻĨিāϤি āĻāϞ্āϞেāĻ āĻā§°া।
Answer:
9. Define oligopoly? What are its features?
āĻ āϞিāĻোāĻĒāϞি ā§° āϏংāĻ্āĻা āĻĻিāĻŦ āύেāĻি? āĻāϝ়াā§° āĻŦিāĻļেāώāϤ্āĻŦāĻŦোā§° āĻি?
Answer:
Long Answer Type Questions
1. What is monopoly? What are its characteristics?
āĻāĻāĻেāĻিāϝ়া āĻি? āĻāϝ়াā§° āĻŦিāĻļেāώāϤ্āĻŦāĻŦোā§° āĻি?
Answer:
2. Point out the types of monopoly?
āĻāĻāĻেāĻিāϝ়া āĻāϧিāĻĒāϤ্āϝ⧰ āĻĒ্ā§°āĻাā§°āĻŦোā§° āĻāĻুāϞিāϝ়াāĻ āĻĻিāĻŦ āύেāĻি?
Answer:
3. What are the bases of monopoly?
āĻāĻāĻেāĻিāϝ়া āĻāϧাā§°āĻŦোā§° āĻি?
Answer:
4. Explain the monopoly equilibrium with zero cost.
āĻļূāύ্āϝ āĻŦ্āϝāϝ়ā§° āϏৈāϤে āĻāĻāĻেāĻিāϝ়া āϏāύ্āϤুāϞāύ āĻŦ্āϝাāĻ্āϝা āĻā§°া।
Answer:
5. Explain short run monopoly equilibrium.
āĻāĻŽু ā§°াāĻŖā§° āĻāĻāĻেāĻিāϝ়া āϏāύ্āϤুāϞāύ āĻŦ্āϝাāĻ্āϝা āĻā§°া।
Answer:
6. Determined long run monopoly equilibrium.
āĻĻীā§°্āĻāĻŽ্āϝাāĻĻী āĻāĻāĻেāĻিāϝ়া āϏāύ্āϤুāϞāύ āύিā§°্āϧাā§°āĻŖ āĻā§°া।
Answer:
7. Supply curve does not exist under monopoly. Comment.
āϝোāĻাāύ āĻŦāĻ্ā§° āĻāĻāĻেāĻিāϝ়াā§° āĻ āϧীāύāϤ āύাāĻ। āĻŽāύ্āϤāĻŦ্āϝ।
Answer:
8. Explain price discrimination. What are its forms?
āĻŽূāϞ্āϝāĻŦৈāώāĻŽ্āϝ āĻŦ্āϝাāĻ্āϝা āĻā§°া। āĻāϝ়াā§° āĻĒ্ā§°āĻাā§°āĻŦোā§° āĻি?
Answer:
9. Explain pigou's degree of price discrimination?
āĻĒিāĻুā§° āĻŽূāϞ্āϝ āĻŦৈāώāĻŽ্āϝ⧰ āĻĒā§°িāĻŽাāĻŖ āĻŦ্āϝাāĻ্āϝা āĻā§°িāĻŦ āύেāĻি?
Answer:
10. Explain equilibrium under discriminating monopoly.
āĻŦৈāώāĻŽ্āϝāĻŽূāϞāĻ āĻāĻāĻেāĻিāϝ়াā§° āĻ āϧীāύāϤ āϏāύ্āϤুāϞāύ āĻŦ্āϝাāĻ্āϝা āĻā§°া।
Answer:
11. Discuss the social desirability of price discrimination.
āĻŽূāϞ্āϝ āĻŦৈāώāĻŽ্āϝ⧰ āϏাāĻŽাāĻিāĻ āĻāĻাংāĻ্āώাā§° āĻŦিāώāϝ়ে āĻāϞোāĻāύা āĻā§°া।
Answer:
12. What is dumping? Explain this practice with a diagram.
āĻĄাāĻŽ্āĻĒিং āĻি? āĻāĻ āĻ āĻ্āϝাāϏāĻো āύāĻ্āϏা āĻāĻāύেā§°ে āĻŦā§°্āĻŖāύা āĻā§°া।
Answer:
13. What are the main differences between monopoly and perfect competition?
āĻāĻāĻেāĻিāϝ়া āĻā§°ু āύিāĻুঁāϤ āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āĻŽাāĻāϤ āĻŽুāĻ্āϝ āĻĒাā§°্āĻĨāĻ্āϝāĻŦোā§° āĻি?
Answer:
14. Explain the different from of imperfect competition.
āĻ āϏিāĻĻ্āϧ āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āĻĒā§°া āĻĒৃāĻĨāĻ āĻŦā§°্āĻŖāύা āĻā§°া।
Answer:
15. Explain the Anti-trust policy followed by the government in India to control monopolies.
āĻāĻāĻেāĻিāϝ়া āĻ āϧিāĻাā§° āύিāϝ়āύ্āϤ্ā§°āĻŖ āĻā§°িāĻŦāϞৈ āĻাā§°āϤāϤ āĻā§°āĻাā§°ে āĻ āύুāϏ⧰āĻŖ āĻā§°া āĻŦিāĻļ্āĻŦাāϏ āĻŦিā§°োāϧী āύীāϤিāĻŦ্āϝাāĻ্āϝা āĻā§°া।
Answer:
Very Long Answer Type Questions
1. What are the types of monopoly? What are the foundations of monopoly?
āĻāĻāĻেāĻিāϝ়া āĻāϧিāĻĒāϤ্āϝ⧰ āĻĒ্ā§°āĻাā§° āĻŦোā§° āĻি? āĻāĻāĻেāĻিāϝ়া āĻāϧিāĻĒāϤ্āϝ⧰ āĻেāĻি āĻি?
Answer:
2. Discuss the short-run and long-run equilibrium under monopoly.
āĻāĻāĻেāĻিāϝ়া āĻ āϧিāĻাā§°ā§° āĻ āϧীāύāϤ āĻāĻŽ āϏāĻŽāϝ়ā§° āĻŦাāĻŦে āĻā§°ু āĻĻীā§°্āĻāĻŽ্āϝাāĻĻী āϏāύ্āϤুāϞāύ⧰ āĻŦিāώāϝ়ে āĻāϞোāĻāύা āĻā§°া।
Answer:
3. Explain the multi-plant monopoly equilibrium.
āĻŽাāϞ্āĻি-āĻĒ্āϞাāĻŖ্āĻ āĻāĻāĻেāĻিāϝ়া āϏāύ্āϤুāϞāύ āĻŦ্āϝাāĻ্āϝা āĻā§°া।
Answer:
4. Supply curve is not relevant for monopoly. Discuss.
āϝোāĻাāύ āĻŦāĻ্ā§° āĻāĻāĻেāĻিāϝ়া ā§° āĻŦাāĻŦে āĻĒ্ā§°াāϏংāĻিāĻ āύāĻšāϝ়। āĻāϞোāĻāύা āĻā§°া।
Answer:
5. Discuss the regulation of monopoly through taxation and price fixation.
āĻā§° āĻā§°ু āĻŽূāϞ্āϝ āύিā§°্āϧাā§°āĻŖā§° āĻā§°িāϝ়āϤে āĻāĻāĻেāĻিāϝ়া āĻ āϧিāĻাā§°ā§° āύিāϝ়āύ্āϤ্ā§°āĻŖā§° āĻŦিāώāϝ়ে āĻāϞোāĻāύা āĻā§°া।
Answer:
6. What are the conditions under which price discriminations is possible and profitable?
āĻি āĻি āĻĒā§°িāϏ্āĻĨিāϤিāϤ āĻŽূāϞ্āϝ⧰ āĻŦৈāώāĻŽ্āϝ āϏāĻŽ্āĻā§ą āĻā§°ু āϞাāĻāĻāύāĻ?
Answer:
7. Explain clearly price-output equilibrium under discriminating monopoly.
āĻŦৈāώāĻŽ্āϝāĻŽূāϞāĻ āĻāĻāĻেāĻিāϝ়া ā§° āĻ āϧীāύāϤ āĻŽূāϞ্āϝ-āĻā§āĻĒাāĻĻāύ āϏāύ্āϤুāϞāύ āϏ্āĻĒāώ্āĻāĻাā§ąে āĻŦā§°্āĻŖāύা āĻā§°া।
Answer:
8. Make a comparative study of monopoly and perfect competition.
āĻāĻāĻেāĻিāϝ়া āĻā§°ু āύিāĻুঁāϤ āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āϤুāϞāύাāĻŽূāϞāĻ āĻ āϧ্āϝāϝ়āύ āĻā§°া।
Answer:
9. Discuss the anti-trust policy and policy to promote competition followed in India.
āĻাā§°āϤāϤ āĻ āύুāϏ⧰āĻŖ āĻā§°া āĻĒ্ā§°āϤিāϝোāĻিāϤাā§° āĻĒ্ā§°āĻাā§°ā§° āĻŦাāĻŦে āĻŦিāĻļ্āĻŦাāϏ āĻŦিā§°োāϧী āύীāϤি āĻā§°ু āύীāϤি āĻāϞোāĻāύা āĻā§°া।
Answer: