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CPT Chapter Price determination

CA CPT Exam  

With Bharat Galani.Duration:4hrs15 min

Price Determination under different marketDuration (min:sec)
Introduction to different market forms 
Introduction01:16
Types of Competition07:13
Perfect Competition (PC) 
Introduction to PC01:34
Features of PC10:34
How is Price Fixed under PC08:20
AR & MR Curve14:31
Equilibrium under PC09:07
Supply Curve under PC06:39
Can competitive firm earn profit05:50
Supernormal profits06:01
Normal Profit06:48
Loss under PC06:53
Firm's Long run Equilibrium12:20
Industry Long run Equilibrium09:53
Quiz04:23
Conclusion01:12
Monopoly  
Introduction to Monopoly01:11
Features of Monopoly07:23
Revenue Curves09:14
Relationship between AR & MR Curve08:37
Equilibrium02:31
Supernormal profits05:08
Normal Profit03:22
Loss03:10
Long run Equilibrium03:49
Price Discrimination05:28
Shifting of Product from One Market to Other Market03:19
Objective of Price Discrimination05:44
Equilibrium under Price Discrimination14:39
Quiz05:55
Conclusion00:38
Monopolistic Competition 
Introduction01:22
What is MC02:48
Features of MC01:54
Short run Equilibrium & Profitability06:54
Long run Equilibrium07:06
Quiz02:18
Conclusion00:59
Oligopoly 
Introduction04:05
Features of Oligopoly03:29
Types of Oligopoly04:18
Equilibrium02:19
Kinked Demand Curve08:10
Quiz02:39
Conclusion00:40
Final Quiz12:18
Conclusion01:05
Total4:15:06

Notes

Index

Perfect Competition
Monopoly
Imperfect Competition -Monopolistic competition
Oligopoly

Characteristic or Features

Large number of seller
Commodity is homogeneous
No barriers to entry or exit
Buyer & Seller knowledge of goods, market condition
Free movement of goods
Firm are price taker

Monopoly

Characteristic
Revenue Curve
Short run Equilibrium
Profits for Monopoly
Long run Equilibrium
Price Discrimination

Characteristic of monopoly
Monopoly : mono means one + poly seller
ex- railways, water

Single seller for the product
Restrictions to Entry :barriers to entry
No close- substitutes :cross elasticity is zero
price elasticity of demand is less than one.
Price discrimination

What is Price discrimination?

Charging different price for same product.
ex-
Railways fares
Dumping
Electricity bill
Water bill

When is Price Discrimination possible

i. seller control over supply
ii.seller able to divide his consumers or market
iii.each market has different price elasticity
iv.buyers unable to sell from low cost market to high cost market

Objective of Price discrimination

earn maximum profit
dispose off surplus stock i.e dumping
enjoy economies of scale
capture new markets
secure equity through pricing
welfare

Imperfect Competition or Monopolistic Competition

Monopolistic Competition

Firm is able to differentiate its product from competition
Advertisment
Firm is Price maker

Features of Monopolistic Competition

Large number of sellers
Product differentiation : through advertisement
Freedom of entry or exit
Non-price competition :factors-advertisement,after-sale service, innovation

Oligopoly

Characteristic of Oligopoly Market

Interdependence
Importance of Advertising & Selling cost
Group Behaviour


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