Q1. Explain how industry price and quantity determined in the long run under perfect is competition?
Q2. When entry restrictions prevent the new firms from entering the market, describe what will happen to the long run equilibrium?
Q3. Describe the behavior of the total, average and marginal product functions in short run and in the long run.
Q4. Compare and contrast the quantity and price of Cournot duopoly to there of competition market.
Q5. Illustrate the prisoner’s dilemma? Write down its strategic implications for the oligopoly?
Q6. Write detail notes on:
a) Peak load Pricing.
b) Stackelberg Model.
c) Characteristics of monopolistic competition.
d) Long run average cost.