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Unit-14: Theory of Monopolistic Competition

14.13 Review Questions Notes

1. What do you mean by monopolistic competition? Describe it.
2. What do you mean by excess limit? Describe it.
3. What do you mean by empirical evidence?
4. Give a note on ‘non price competition’.

Answers: Self Assessment
1. Possible 2. Main characteristics 3. Motion 4. Law
5. (a) 6. (b) 7. (c) 8. (c)
9. False 10. False 11. True 12. True

14.14 Further Readings

1. Microeconomics: An Advanced Treaties—S.P.S. Chauhan, PHI Learning.
2. Microeconomics: Behaviour, Institutions and Evolutions— Sampool Bowels, Oxford
University Press, 2004.
3. Microeconomics: Principles, Applications and Tools— Sanjay Basotia, DND Publications,
2010.

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