Mumbai University Solved Question Papers
Economics
Previous Year Question Paper with Solution
BLS LLB 5 Years · Sem 1
2025-26 - ATKT Set 2 60/40 Examination
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BLS LLB 5 Years Sem 1 Economics 2025-26 - ATKT Set 2 60/40 Question Paper with Solutions
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First published on munotes.in on 9 August 2026.
This edition revised 11 August 2026.
Published by munotes.in, Mumbai.
Model answers written and edited by the munotes.in editorial desk.
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The University does not publish an official answer key for this paper. The answers in this volume are model answers, written to show how a full-mark answer is built. They are a study aid, not an authority on what an examiner marked.
The question paper reproduced here is the paper as set by the University of Mumbai at the 2025-26 - ATKT Set 2 60/40 examination.
Contents
The questions below are the paper as the University of Mumbai set it at the 2025-26 - ATKT Set 2 60/40 examination, in the order it was set.
MarksPage
The Paper as Set
The questions in this volume are the questions asked at the 2025-26 - ATKT Set 2 60/40 examination, reproduced as the University of Mumbai set them, in the order it set them. Nothing has been reworded, added or left out. Only the answers are ours. See the original question paper.
Duration 2 hours · Total marks 60 · 21 questions answered
Instructions printed on the paper
- Figures to the right Indicate maximum marks.
How to use this volume
Solve the paper first, under exam conditions and against the clock. Then read the answers here and mark your own. Reading a solution before attempting the question feels productive and teaches very little, because recognising an answer is not the same as being able to write one.
SECTION I
Answer the following in one or two sentences
Any 6 · 12 Marks
1.Dive two features of monopoly?[2]
Answer
(The paper prints "Dive"; the question asks you to give two features of monopoly.)
Monopoly is a market structure in which there is a single seller of a commodity which has no close substitutes. The word comes from the Greek monos (one) and polein (to sell).
Its two principal features:
- Single seller and many buyers. One firm constitutes the entire industry, so the firm's demand curve is the industry's demand curve. There is no distinction between the firm and the industry, which does not hold in any other market form.
- Strong barriers to entry. New firms cannot enter, which is what allows the monopoly to persist. The barriers may be legal (a patent, a licence, a statutory monopoly), natural (exclusive control of a raw material), technical (economies of scale so large that one firm supplies the whole market, as in electricity distribution), or financial.
Two further features often required: the monopolist is a price maker, not a price taker, and can set either price or quantity but not both; and there are no close substitutes, so buyers have nowhere else to go.
The rest of the answers
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