Ques 1.

“Decision trees are particularly useful if sequential decision-making is involved.” In light of the above statement explain the concept of decision trees with the help of diagram.

Ques 2.

Elaborate on the concept of Point Price Elasticity with the help of a numerical example.

Ques 3.

“Several methods exist for the measurement of the actual cost-output relation for a particular firm or a group of firms.” Discuss the broad approaches such as accounting, engineering and econometrics for measuring the actual cost-output relation.

Ques 4.

“The form of price discrimination, which is based on the volume of consumer purchases, is very common and is known as second degree price discrimination”. Explain second degree price discrimination with the help of an example and diagram.

Ques 5.

The most extreme form of the collusive agreement is known as a cartel. Discuss profit maximization theory in detail.

Ques 6.

Value maximisation

Ques 7.

Private and social costs

Ques 8.

Monopoly power

Ques 9.

Price Rigidity