Discuss the types of non-cooperative behaviour under Oligopoly

With respect to the demand and supply analysis, discuss the Walrasian equilibrium and the Walrasian stability condition.

What will be the resultant effects on the labour market if the minimum wage is set below the market equilibrium wage rate?

(a) Draw a kinked demand curve and explain how a change in marginal costs may not affect the price in the market

Law of Diminishing returns applies only in the short-run. Do you agree?

Using appropriate diagrams discuss the income and substitution effects of a price change in case of an inferior good.

A Monopoly faces market demand given by Q = 30 – P, where Q stands for quantity and P for price. Total cost function is given by C(Q) = 2Q2 . Find the profit maximising price and quantity and the resulting profit to the monopoly. Compare your results with the equilibrium quantity and price of that of a perfect competitive industry.