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This document contains an assignment for a managerial economics course. It has three questions: 1) Define key economic terms related to economies of scale, price discrimination, costs, and revenues. 2) Explain monopoly markets including features and output. 3) Differentiate price determination under perfect competition in long-run versus short-run. The assignment is out of 20 total marks and includes definitions, explanations, and differentiations of important economic concepts.
This document contains an assignment for a managerial economics course. It has three questions: 1) Define key economic terms related to economies of scale, price discrimination, costs, and revenues. 2) Explain monopoly markets including features and output. 3) Differentiate price determination under perfect competition in long-run versus short-run. The assignment is out of 20 total marks and includes definitions, explanations, and differentiations of important economic concepts.
This document contains an assignment for a managerial economics course. It has three questions: 1) Define key economic terms related to economies of scale, price discrimination, costs, and revenues. 2) Explain monopoly markets including features and output. 3) Differentiate price determination under perfect competition in long-run versus short-run. The assignment is out of 20 total marks and includes definitions, explanations, and differentiations of important economic concepts.
(b) What is price discrimination? (c)What is explicit and implicit cost? (d)Define total and marginal revenue. (e)Define fixed and variable cost with example? [2*5=10]
Ques2: Explain the monopoly market its features and output?
[5]
Ques3: Differentiate between price determination under