I have a doubt in question no 15 and 16 Because in perfect competition AR=MR=MC=AC for maximisation of profit And in question 16 A should be the ans because in monopolistic competition there is no barriers for entry of other firms
22 ans is B because coca cola and Pepsi are example of oligopoly completion they compete with each other with advertisement even advertisement cost is higher in oligopoly than other firms
More elastic means small change is price quantity can change more but here if monopoly charge higher price due to less elastic ( due to no substitute) consumer can't substitute and he pays for the higher price
in q 11. stage1 is increasing returns stage2 is constant returns and stage3 is diminishing return and in stage3 total product falls and m.p becomes negetive I think the answer will be b not a
Sir Answer for 11th question should be B not A..because producer producers in stage 2..n only after this stage diminishing return starts when TP is falling...