Q1. Describe the features of the perfect competition?
Q2. Do firms usually equate their MC with MR in practice?
Q3. Describe how an individual firm attains the equilibrium in long-run under perfect competition.
Q4. Describe in brief the advantages of the monopoly
Q5. Explain how does a monopoly firm attain equilibrium under various cost conditions?
Q6. Describe the necessary condition for the price discrimination?
Q7. Explain the main characteristics of Oligopoly?
Q8. Describe the main factors comprised in pricing?
Q9. Describe the method of cost plus pricing?