Ques 1.

Discuss the features of an Oligopolistic market structure. What are the various reasons that lead to emergence of this market structure? 

Ques 2.

With regards the Kinked demand curve theory given by Paul Sweezy, answer the following:

(i) What does the kinked demand curve model of oligopoly assumes about the price elasticity
 of demand? 
(ii) Comment upon the discontinuous shape of the Marginal revenue curve under this model. 

Ques 3.

A country can have a comparative advantage in producing a good even if it is absolutely less efficient at producing that good. Do you agree? Explain using an example.

Ques 4.

Consider the following Table 1 which represents labour time (in minutes) requirements for the production of a unit of commodity X and Y by country A and B, and answer the questions that follow:

Ques 5.

Table 1: Labourtime (in minutes) requirement for production of a unit of Good X and Y by Country A and B

(i) Which country among A and B has absolute advantage in producing commodity X and which
has in producing commodity Y? Give reason. 
(ii) Which country among A and B has comparative advantage in producing commodity X and
which has in producing commodity Y? Give reason. 
(iii)Suppose after trade each country specialises in production of commodity in which it has a
comparative advantage, which country will specialise in producing commodity X?

Ques 6.

What is meant by Pareto efficient allocation of resources? Is Perfect competition market equilibrium Pareto efficient? Discuss using appropriate diagrams.

Ques 7.

Using appropriate diagram, show how interaction of demand and supply curve in land market leads to determination of equilibrium rent.

Ques 8.

Discuss various forms of government interventions intended to internalize externalities.

Ques 9.

Discuss Joseph Schumpeter’s theory of profit.

Ques 10.

The concept of quasi-rent is an extension of the Ricardian concept of rent to other factors of production. Elucidate.

Ques 11.

Discuss the concept of excess capacity associated with the long run equilibrium under Monopolistic competition

Ques 12.

What has been the impact of the WTO on Indian economy?

Ques 13.

What is meant by derived demand of a factor?