Q. What is price discrimination? Graphically explain how price output equilibrium

is established under it.

Q. How does the price in the kink demand curve arise? explain graphically. Also

give an example of kinked dd curve in practice.

Q.Market structure has an important impact on an industry and the firm within it.

Choose two firms of market structure (competitive market & monopoly), compare and contrast these market structures with specific reference to the characteristics which

define them.