Problem 1: Inflation is global phenomenon which is associated with high price causes decline in the value for money it exists when the amount in the country is in excess in the physical volume of goods and services. Explain the reason for this monetary phenomenon.
Problem 2: Monopoly is the situation there exists a single control over the market producing a commodity having no substitutes with any possibilities for anyone to enter the industry to compete. In that situation, they will not charge a uniform price for all the customers in the market and also the pricing policy followed in that situation.
Problem 3: Define monopolistic competition and explain its characteristics.
Problem 4: When should a firm in perfectly competitive market shut down its operation?
Problem 5: Discuss the practical application of price elasticity and income elasticity of demand.
Problem 6: Discuss the scope of managerial economics.
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