Market and Price Determination (CBSE (Central Board of Secondary Education- Board Exam) Class-12 Economics): Questions 33 - 40 of 40

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Question number: 33

» Market and Price Determination » Market Equilibrium

Essay Question▾

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Define equilibrium price. How is it determined? Explain with the help of a schedule.

Explanation

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Question number: 34

» Market and Price Determination » Monopoly

Short Answer Question▾

Write in Short

Define monopoly

Question number: 35

» Market and Price Determination » Market Equilibrium

Essay Question▾

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Given market equilibrium of a good, what are the effects of simultaneous increase in both demand and supply of that good on its equilibrium price and quantity?

Explanation

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Question number: 36

» Market and Price Determination » Market Equilibrium

Essay Question▾

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Explain the central problem of ‘choice of technique’.

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Question number: 37

» Market and Price Determination » Market Equilibrium

Essay Question▾

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Explain the implications of the following:

(i) The feature ‘differentiated product’ under monopolistic competition.

(ii) The feature ‘large number of sellers’ under perfect competition.

Explanation

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Question number: 38

» Market and Price Determination » Market Equilibrium

Essay Question▾

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At a given price there is excess demand for a good. Explain how the equilibrium price will be reached. Use diagram.

Explanation

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Question number: 39

» Market and Price Determination » Perfect Competition

Essay Question▾

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Explain the following: (I) ‘Free entry and exit’ feature of perfect competition, (ii) ‘Differentiated products’ feature of monopolistic competition.

Explanation

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Question number: 40

» Market and Price Determination » Perfect Competition

Essay Question▾

Describe in Detail

Explain the following features of perfect competition: (i) Large number of buyers and sellers (ii) Homogeneous products

Explanation

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