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![NCERT solutions for Economics - Introductory Microeconomics [English] chapter 6 - Non-Competitive Markets - Shaalaa.com](/images/9788174506788-economics-introductory-microeconomics-english_6:792ddeb7006e40d6b89eea4d02d1d6cf.jpg "NCERT solutions for Economics - Introductory Microeconomics [English] chapter 6 - Non-Competitive Markets")
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Solutions for Chapter 6: Non-Competitive Markets
Below listed, you can find solutions for Chapter 6 of CBSE NCERT for Economics - Introductory Microeconomics [English].
NCERT solutions for Economics - Introductory Microeconomics [English] 6 Non-Competitive Markets Exercise [Pages 100 - 101]
What would be the shape of the demand curve so that the total revenue curve is
(a) a positively sloped straight line passing through the origin?
(b) a horizontal line?
From the schedule provided below calculate the total revenue, demand curve and the price elasticity of demand:
|
Quantity |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
|
Marginal Revenue |
10 |
6 |
2 |
2 |
2 |
0 |
0 |
0 |
−5 |
What is the value of the MR when the demand curve is elastic?
A monopoly firm has a total fixed cost of Rs 100 and has the following demand schedule:
|
Quantity |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
|
Price |
100 |
90 |
80 |
70 |
60 |
50 |
40 |
30 |
20 |
10 |
Findthe short run equilibrium quantity, price and total profit. What would be the equilibrium in the long run? In case the total cost is Rs 1000, describe the equilibrium in the short run and in the long run.
If the monopolist firm of Exercise 3, was a public sector firm. The government set a rule for its manager to accept the government fixed price as given (i.e. to be a price taker and therefore behave as a firm in a perfectly competitive market). And the government decide to set the price so that demand and supply in the market are equal. What would be the equilibrium price, quantity and profit in this case?
Comment on the shape of MR curve in case when TR curve is a positively sloped straight line.
Comment on the shape of MR curve in case when TR curve is a horizontal straight line.
The market demand curve for a commodity and the total cost for a monopoly firm producing the commodity is given in the schedules below.
|
Quantity |
0 |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
|
Price |
52 |
44 |
37 |
3 |
26 |
22 |
19 |
16 |
13 |
|
Quantity |
0 |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
|
Total Cost |
10 |
60 |
90 |
100 |
102 |
105 |
109 |
115 |
125 |
Use the information given to calculate the following:
(a) The MR and MC schedules
(b) The quantities for which MR and MC are equal
(c) The equilibrium quantity of output and the equilibrium price of the commodity
(d) The total revenue, total cost and total profit in the equilibrium
Will the monopolist firm continue to produce in the short run if a loss is incurred at the best short run level of output?
Explain why the demand curve facing a firm under monopolistic competition is negatively sloped.
What is the reason for the long run equilibrium of a firm in monopolistic competition to be associated with zero profit?
List the three different ways in which oligopoly firms may behave.
If duopoly behaviour is one that is described by Cournot, the market demand curve is given by the equation q = 200 − 4p and both the firms have zero costs, find the quantity supplied by each firm in equilibrium and the equilibrium market price.
What is meant by prices being rigid? How can oligopoly behaviour lead to such an outcome?
Solutions for 6: Non-Competitive Markets
NCERT solutions for Economics - Introductory Microeconomics [English] chapter 6 - Non-Competitive Markets
Shaalaa.com has the CBSE Mathematics Economics - Introductory Microeconomics [English] CBSE solutions in a manner that help students grasp basic concepts better and faster. The detailed, step-by-step solutions will help you understand the concepts better and clarify any confusion. NCERT solutions for Mathematics Economics - Introductory Microeconomics [English] CBSE 6 (Non-Competitive Markets) include all questions with answers and detailed explanations. This will clear students' doubts about questions and improve their application skills while preparing for board exams.
Further, we at Shaalaa.com provide such solutions so students can prepare for written exams. NCERT textbook solutions can be a core help for self-study and provide excellent self-help guidance for students.
Concepts covered in Economics - Introductory Microeconomics [English] chapter 6 Non-Competitive Markets are Simple Monopoly in the Commodity Market, Other Non - Perfectly Competitive Markets, Simple Monopoly in the Commodity Market, Other Non - Perfectly Competitive Markets.
Using NCERT Economics - Introductory Microeconomics [English] solutions Non-Competitive Markets exercise by students is an easy way to prepare for the exams, as they involve solutions arranged chapter-wise and also page-wise. The questions involved in NCERT Solutions are essential questions that can be asked in the final exam. Maximum CBSE Economics - Introductory Microeconomics [English] students prefer NCERT Textbook Solutions to score more in exams.
Get the free view of Chapter 6, Non-Competitive Markets Economics - Introductory Microeconomics [English] additional questions for Mathematics Economics - Introductory Microeconomics [English] CBSE, and you can use Shaalaa.com to keep it handy for your exam preparation.
