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Chapter 14

Monopoly

Multiple Choice Questions

1. In monopoly market, the number of sellers is

āĻāĻ•āϚেāϟিāϝ়া āĻŦāϜাā§°āϤ, āĻŦিāĻ•্ā§°েāϤাā§° āϏংāĻ–্āϝা āĻšৈāĻ›ে

(a) One

āĻāĻ•

(b) Two

āĻĻুāχ

(c) Few

āĻ•িāĻ›ু

(d) Large

āĻĄাāϙ⧰

Answer: (a) One (āĻāĻ•)।

2. Monopolist can secure excess profit in the 

āĻāĻ•āϚেāϟিāϝ়া āϏāĻ•āϞে āĻ…āϤিā§°িāĻ•্āϤ āϞাāĻ­ āϏুā§°āĻ•্āώিāϤ āϕ⧰িāĻŦ āĻĒাā§°ে 

(a) Short-run 

āϚāĻŽু-ā§°াāĻŖ 

(b) Long-run

āĻĻীā§°্āϘāĻŽ্āϝাāĻĻী

(c) Both short and long-run 

āϚুāϟি āφ⧰ু āĻĻীā§°্āϘāĻŽ্āϝাāĻĻী āĻĻুāϝ়োāϟা 

Answer: (c) Both short and long-run (āϚুāϟি āφ⧰ু āĻĻীā§°্āϘāĻŽ্āϝাāĻĻী āĻĻুāϝ়োāϟা)।

3. The monopoly equilibrium is determined of that part of the demand curve where Ep is

āĻāĻ•āϚেāϟিāϝ়া āϏāύ্āϤুāϞāύ āϚাāĻšিāĻĻা āĻŦāĻ•্ā§°ā§° āϏেāχ āĻ…ংāĻļā§° āĻĒā§°া āύিā§°্āϧাā§°āĻŖ āϕ⧰া āĻšāϝ় āϝ'āϤ āχāĻĒি āφāĻ›ে

(a) Less than unity

āĻāĻ•āϤাāϤāĻ•ৈ āĻ•āĻŽ

(b) More than unity

āĻāĻ•āϤাāϤāĻ•ৈ āĻ…āϧিāĻ•

(c) Equal to unity.

āĻāĻ•āϤাā§° āϏāĻŽাāύ।

Answer: (b) More than unity (āĻāĻ•āϤাāϤāĻ•ৈ āĻ…āϧিāĻ•)।

4. The relationship between the degree of monopoly power and the price elasticity of demand is

āĻāĻ•āϚেāϟিāϝ়া āĻļāĻ•্āϤিā§° āĻŽাāϤ্ā§°া āφ⧰ু āϚাāĻšিāĻĻাā§° āĻŽূāϞ্āϝ āϏ্āĻĨিāϤিāϏ্āĻĨাāĻĒāĻ•āϤাā§° āĻŽাāϜ⧰ āϏāĻŽ্āĻĒā§°্āĻ• āĻšৈāĻ›ে

(a) Inverse

āĻŦিāĻĒā§°ীāϤ

(b) Direct 

āĻĒ্ā§°āϤ্āϝāĻ•্āώ

(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 

āϞাāĻ­āϜāύāĻ• āĻŽূāϞ্āϝ āĻŦৈāώāĻŽ্āϝ⧰ āĻŦাāĻŦে āĻĒ্ā§°āϝ়োāϜāύীāϝ় āϚ⧰্āϤ āϟো āĻš'āϞ āĻŦিāĻ­িāύ্āύ āĻŦāϜাā§°āϤ āϚাāĻšিāĻĻাā§° āĻŽূāϞ্āϝ āϏ্āĻĨিāϤিāϏ্āĻĨাāĻĒāĻ•āϤা āĻš'āĻŦ āϞাāĻ—ে 

(a) Exactly equal 

āĻ িāĻ• āϏāĻŽাāύ 

(b) Different

āĻŦেāϞেāĻ—

(c) Neither of the two

āĻĻুāϝ়োāϟাā§° āĻ•োāύোāϟোā§ąেāχ āύāĻšāϝ়

Answer: (b) Different (āĻŦেāϞেāĻ—)।

Very Short Answer Type Questions

1. Define monopoly.

āĻāĻ•āϚেāϟিāϝ়া āϏংāϜ্āĻžা āĻĻিāϝ়া।

Answer:

2. What are the types of monopoly?

āĻāĻ•āϚেāϟিāϝ়া āφāϧিāĻĒāϤ্āϝ⧰ āĻĒ্ā§°āĻ•াā§° āĻŦোā§° āĻ•ি?

Answer:

3. Point out any two sources of monopoly power.  

āĻāĻ•āϚেāϟিāϝ়া āĻļāĻ•্āϤিā§° āϝিāĻ•োāύো āĻĻুāϟা āĻ‰ā§ŽāϏ āĻĻেāĻ–ুā§ąাāĻ“āĻ•।

Answer:

4. State the condition for equilibrium in case of multi-plant monopoly.

āĻŽাāϞ্āϟি-āĻĒ্āϞাāĻŖ্āϟ āĻāĻ•াāϧিāĻĒāϤ্āϝ⧰ āĻ•্āώেāϤ্ā§°āϤ āϏāύ্āϤুāϞāύ⧰ āϏ্āĻĨিāϤি āωāϞ্āϞেāĻ– āϕ⧰া।

Answer:

5. What is meant by degree of monopoly power?

āĻāĻ•āϚেāϟিāϝ়া āĻļāĻ•্āϤিā§° āĻĄিāĻ—্ā§°ীā§° āĻ…ā§°্āĻĨ āĻ•ি?

Answer:

6. State lerner's measure of degree of monopoly power.

ā§°াāϜ্āϝিāĻ• āϞাā§°্āĻŖাā§°ā§° āĻāĻ•āϚেāϟিāϝ়া āĻļāĻ•্āϤিā§° āĻĒā§°িāĻŽাāĻŖ।

Answer:

7. Define discriminating monopoly.

āĻŦৈāώāĻŽ্āϝāĻŽূāϞāĻ• āĻāĻ•āϚেāϟিāϝ়া āφāϧিāĻĒāϤ্āϝ āύিā§°্āϧাā§°āĻŖ āϕ⧰া।

Answer:

8. What is the condition for equilibrium under price discrimination?

āĻŽূāϞ্āϝ āĻŦৈāώāĻŽ্āϝ⧰ āĻ…āϧীāύāϤ āϏāύ্āϤুāϞāύ⧰ āϚ⧰্āϤ āĻ•ি?

Answer:

9. What is dumping?

āĻĄাāĻŽ্āĻĒিং āĻ•ি?

Answer:

10. Define monopoly.

āĻāĻ•āϚেāϟিāϝ়া āϏংāϜ্āĻžা āĻĻিāϝ়া।

Answer:

11. What is the meaning of bilateral monopoly?

āĻĻ্āĻŦিāĻĒাāĻ•্āώিāĻ• āĻāĻ•āϚেāϟিāϝ়া āφāϧিāĻĒāϤ্āϝ⧰ āĻ…ā§°্āĻĨ āĻ•ি?

Answer:

Short Answer Type Questions

1. Give two features of monopoly.

āĻāĻ•āϚেāϟিāϝ়া ā§° āĻĻুāϟা āĻŦিāĻļেāώāϤ্āĻŦ āĻĻিāϝ়া।

Answer:

2. Explain briefly legal monopoly and social monopoly.

āϚāĻŽুāĻ•ৈ āφāχāύী āĻāĻ•āϚেāϟিāϝ়া āφ⧰ু āϏাāĻŽাāϜিāĻ• āĻāĻ•āϚেāϟিāϝ়া āφāϧিāĻĒāϤ্āϝ āĻŦ্āϝাāĻ–্āϝা āϕ⧰া।

Answer:

3. Is monopoly price always a high price?

āĻāĻ•āϚেāϟিāϝ়া āĻŽূāϞ্āϝ āϏāĻĻাāϝ় āωāϚ্āϚ āĻŽূāϞ্āϝ āύেāĻ•ি?

Answer:

4. How can you measure degree of monopoly power through price elasticity of demand criterion and cross elasticity of demand criterion?

āϚাāĻšিāĻĻাā§° āϚ⧰্āϤ⧰ āĻŽূāϞ্āϝ āϏ্āĻĨিāϤিāϏ্āĻĨাāĻĒāĻ•āϤা āφ⧰ু āϚাāĻšিāĻĻাā§° āϚ⧰্āϤ⧰ āϏ্āĻĨিāϤিāϏ্āĻĨাāĻĒāĻ•āϤাā§° āϜ⧰িāϝ়āϤে āφāĻĒুāύি āĻ•েāύেāĻ•ৈ āĻāĻ•āϚেāϟিāϝ়া āĻļāĻ•্āϤিā§° āĻĒā§°িāĻŽাāĻŖ āϜোāĻ–া āϝাāϝ়?

Answer:

5. What are the forms of price discrimination?

āĻŽূāϞ্āϝ āĻŦৈāώāĻŽ্āϝ⧰ āĻĒ্ā§°āĻ•াā§°āĻŦোā§° āĻ•ি?

Answer:

6. What are the degrees of price discrimination?

āĻŽূāϞ্āϝ āĻŦৈāώāĻŽ্āϝ⧰ āĻĄিāĻ—্ā§°ীāĻŦোā§° āĻ•ি?

Answer:

7. Can monopolist control both supply and price at the same time?

āĻāĻ•āϚেāϟিāϝ়া āϏāĻ•āϞে āĻāĻ•ে āϏāĻŽāϝ়āϤে āϝোāĻ—াāύ āφ⧰ু āĻŽূāϞ্āϝ āĻĻুāϝ়োāϟা āύিāϝ়āύ্āϤ্ā§°āĻŖ āϕ⧰িāĻŦ āĻĒাā§°েāύে?

Answer:

8. State the condition for monopsony equilibrium.

āĻŽāύোāĻĒāϚāύী āϏāύ্āϤুāϞāύ⧰ āϏ্āĻĨিāϤি āωāϞ্āϞেāĻ– āϕ⧰া।

Answer:

9. Define oligopoly? What are its features?

āĻ…āϞিāĻ—োāĻĒāϞি ā§° āϏংāϜ্āĻžা āĻĻিāĻŦ āύেāĻ•ি? āχāϝ়াā§° āĻŦিāĻļেāώāϤ্āĻŦāĻŦোā§° āĻ•ি?

Answer:

Long Answer Type Questions

1. What is monopoly? What are its characteristics?

āĻāĻ•āϚেāϟিāϝ়া āĻ•ি? āχāϝ়াā§° āĻŦিāĻļেāώāϤ্āĻŦāĻŦোā§° āĻ•ি?

Answer:

2. Point out the types of monopoly?

āĻāĻ•āϚেāϟিāϝ়া āφāϧিāĻĒāϤ্āϝ⧰ āĻĒ্ā§°āĻ•াā§°āĻŦোā§° āφāĻ™ুāϞিāϝ়াāχ āĻĻিāĻŦ āύেāĻ•ি?

Answer:

3. What are the bases of monopoly?

āĻāĻ•āϚেāϟিāϝ়া āφāϧাā§°āĻŦোā§° āĻ•ি?

Answer:

4. Explain the monopoly equilibrium with zero cost.

āĻļূāύ্āϝ āĻŦ্āϝāϝ়ā§° āϏৈāϤে āĻāĻ•āϚেāϟিāϝ়া āϏāύ্āϤুāϞāύ āĻŦ্āϝাāĻ–্āϝা āϕ⧰া।

Answer:

5. Explain short run monopoly equilibrium.

āϚāĻŽু ā§°াāĻŖā§° āĻāĻ•āϚেāϟিāϝ়া āϏāύ্āϤুāϞāύ āĻŦ্āϝাāĻ–্āϝা āϕ⧰া।

Answer:

6. Determined long run monopoly equilibrium.

āĻĻীā§°্āϘāĻŽ্āϝাāĻĻী āĻāĻ•āϚেāϟিāϝ়া āϏāύ্āϤুāϞāύ āύিā§°্āϧাā§°āĻŖ āϕ⧰া।

Answer:

7. Supply curve does not exist under monopoly. Comment.

āϝোāĻ—াāύ āĻŦāĻ•্ā§° āĻāĻ•āϚেāϟিāϝ়াā§° āĻ…āϧীāύāϤ āύাāχ। āĻŽāύ্āϤāĻŦ্āϝ।

Answer:

8. Explain price discrimination. What are its forms?

āĻŽূāϞ্āϝāĻŦৈāώāĻŽ্āϝ āĻŦ্āϝাāĻ–্āϝা āϕ⧰া। āχāϝ়াā§° āĻĒ্ā§°āĻ•াā§°āĻŦোā§° āĻ•ি?

Answer:

9. Explain pigou's degree of price discrimination?

āĻĒিāĻ—ুā§° āĻŽূāϞ্āϝ āĻŦৈāώāĻŽ্āϝ⧰ āĻĒā§°িāĻŽাāĻŖ āĻŦ্āϝাāĻ–্āϝা āϕ⧰িāĻŦ āύেāĻ•ি?

Answer: 

10. Explain equilibrium under discriminating monopoly.

āĻŦৈāώāĻŽ্āϝāĻŽূāϞāĻ• āĻāĻ•āϚেāϟিāϝ়াā§° āĻ…āϧীāύāϤ āϏāύ্āϤুāϞāύ āĻŦ্āϝাāĻ–্āϝা āϕ⧰া।

Answer:

11. Discuss the social desirability of price discrimination.

āĻŽূāϞ্āϝ āĻŦৈāώāĻŽ্āϝ⧰ āϏাāĻŽাāϜিāĻ• āφāĻ•াংāĻ•্āώাā§° āĻŦিāώāϝ়ে āφāϞোāϚāύা āϕ⧰া।

Answer:

12. What is dumping? Explain this practice with a diagram.

āĻĄাāĻŽ্āĻĒিং āĻ•ি? āĻāχ āĻ…āĻ­্āϝাāϏāϟো āύāĻ•্āϏা āĻāĻ–āύেā§°ে āĻŦā§°্āĻŖāύা āϕ⧰া।

Answer:

13. What are the main differences between monopoly and perfect competition?

āĻāĻ•āϚেāϟিāϝ়া āφ⧰ু āύিāĻ–ুঁāϤ āĻĒ্ā§°āϤিāϝোāĻ—িāϤাā§° āĻŽাāϜāϤ āĻŽুāĻ–্āϝ āĻĒাā§°্āĻĨāĻ•্āϝāĻŦোā§° āĻ•ি?

Answer:

14. Explain the different from of imperfect competition.

āĻ…āϏিāĻĻ্āϧ āĻĒ্ā§°āϤিāϝোāĻ—িāϤাā§° āĻĒā§°া āĻĒৃāĻĨāĻ• āĻŦā§°্āĻŖāύা āϕ⧰া।

Answer:

15. Explain the Anti-trust policy followed by the government in India to control monopolies.

āĻāĻ•āϚেāϟিāϝ়া āĻ…āϧিāĻ•াā§° āύিāϝ়āύ্āϤ্ā§°āĻŖ āϕ⧰িāĻŦāϞৈ āĻ­াā§°āϤāϤ āϚ⧰āĻ•াā§°ে āĻ…āύুāϏ⧰āĻŖ āϕ⧰া āĻŦিāĻļ্āĻŦাāϏ āĻŦিā§°োāϧী āύীāϤিāĻŦ্āϝাāĻ–্āϝা āϕ⧰া।

Answer:

Very Long Answer Type Questions 

1. What are the types of monopoly? What are the foundations of monopoly?

āĻāĻ•āϚেāϟিāϝ়া āφāϧিāĻĒāϤ্āϝ⧰ āĻĒ্ā§°āĻ•াā§° āĻŦোā§° āĻ•ি? āĻāĻ•āϚেāϟিāϝ়া āφāϧিāĻĒāϤ্āϝ⧰ āĻ­েāϟি āĻ•ি?

Answer:

2. Discuss the short-run and long-run equilibrium under monopoly.

āĻāĻ•āϚেāϟিāϝ়া āĻ…āϧিāĻ•াā§°ā§° āĻ…āϧীāύāϤ āĻ•āĻŽ āϏāĻŽāϝ়ā§° āĻŦাāĻŦে āφ⧰ু āĻĻীā§°্āϘāĻŽ্āϝাāĻĻী āϏāύ্āϤুāϞāύ⧰ āĻŦিāώāϝ়ে āφāϞোāϚāύা āϕ⧰া।

Answer:

3. Explain the multi-plant monopoly equilibrium.

āĻŽাāϞ্āϟি-āĻĒ্āϞাāĻŖ্āϟ āĻāĻ•āϚেāϟিāϝ়া āϏāύ্āϤুāϞāύ āĻŦ্āϝাāĻ–্āϝা āϕ⧰া।

Answer:

4. Supply curve is not relevant for monopoly. Discuss.

āϝোāĻ—াāύ āĻŦāĻ•্ā§° āĻāĻ•āϚেāϟিāϝ়া ā§° āĻŦাāĻŦে āĻĒ্ā§°াāϏংāĻ—িāĻ• āύāĻšāϝ়। āφāϞোāϚāύা āϕ⧰া।

Answer:

5. Discuss the regulation of monopoly through taxation and price fixation.

āϕ⧰ āφ⧰ু āĻŽূāϞ্āϝ āύিā§°্āϧাā§°āĻŖā§° āϜ⧰িāϝ়āϤে āĻāĻ•āϚেāϟিāϝ়া āĻ…āϧিāĻ•াā§°ā§° āύিāϝ়āύ্āϤ্ā§°āĻŖā§° āĻŦিāώāϝ়ে āφāϞোāϚāύা āϕ⧰া।

Answer:

6. What are the conditions under which price discriminations is possible and profitable?

āĻ•ি āĻ•ি āĻĒā§°িāϏ্āĻĨিāϤিāϤ āĻŽূāϞ্āϝ⧰ āĻŦৈāώāĻŽ্āϝ āϏāĻŽ্āĻ­ā§ą āφ⧰ু āϞাāĻ­āϜāύāĻ•?

Answer:

7. Explain clearly price-output equilibrium under discriminating monopoly.

āĻŦৈāώāĻŽ্āϝāĻŽূāϞāĻ• āĻāĻ•āϚেāϟিāϝ়া ā§° āĻ…āϧীāύāϤ āĻŽূāϞ্āϝ-āĻ‰ā§ŽāĻĒাāĻĻāύ āϏāύ্āϤুāϞāύ āϏ্āĻĒāώ্āϟāĻ­াā§ąে āĻŦā§°্āĻŖāύা āϕ⧰া।

Answer: 

8. Make a comparative study of monopoly and perfect competition.

āĻāĻ•āϚেāϟিāϝ়া āφ⧰ু āύিāĻ–ুঁāϤ āĻĒ্ā§°āϤিāϝোāĻ—িāϤাā§° āϤুāϞāύাāĻŽূāϞāĻ• āĻ…āϧ্āϝāϝ়āύ āϕ⧰া।

Answer:

9. Discuss the anti-trust policy and policy to promote competition followed in India.

āĻ­াā§°āϤāϤ āĻ…āύুāϏ⧰āĻŖ āϕ⧰া āĻĒ্ā§°āϤিāϝোāĻ—িāϤাā§° āĻĒ্ā§°āϚাā§°ā§° āĻŦাāĻŦে āĻŦিāĻļ্āĻŦাāϏ āĻŦিā§°োāϧী āύীāϤি āφ⧰ু āύীāϤি āφāϞোāϚāύা āϕ⧰া।

Answer:




Question Type-Bhabesh Bora.