- 20 Marks
EIB – OCT 2022 – L1 – Q4 – Monopoly Characteristics and Profit
Conditions, features, limits, profit determination, and examples of monopoly.
Question
(a) Under what condition may a pure monopoly exist? (4 marks
(b) Name any four characteristics of a pure monopoly. (4 marks (
c) Name any two limits of monopoly power. (4 marks
(d) How does the monopolist determine his normal profit? (4 marks
(e) What type of monopoly is postal service? (4 marks
(Total marks:20)
Find Related Questions by Tags, levels, etc.
- Tags: Characteristics, limits, normal profit, pure monopoly, type of monopoly
- Level: Level 1
- Topic: Product and Output – The Firm
- Series: OCT 2022
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