Q1) Compare the quantity and price of an oligopoly to those of a competitive market.

Q2) Consider a cartel in which each firm has identical and constant marginal costs. If the cartel maximizes total industry profits, what does this imply about the division of output between the firms?

Q3) How is peak-load pricing a form of price discrimination? Can it make consumers better off? Give an example.

Q4) What is price discrimination. What are its types and how it affects production and prices?

Q5) Distinguish between marginal pricing and cost-plus pricing.