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प्रश्न
A monopolist is price maker:
विकल्प
True
False
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उत्तर
This statement is True.
Explanation:
A monopolist is a price maker because, as the only seller in the market, the monopolist has the authority to establish the price of the commodity. Because there are no competitors, the monopolist can control the price by altering the supply of the commodity.
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संबंधित प्रश्न
Define Discriminating Monopoly.
A seller cannot influence the market price under:
A holiday resort in a remote village is very popular among the tourists. Since the connectivity is very poor with the outer world, the owner employs the local villagers for the functioning of the resort.
This is a case of:
Match the following:
| Column I | Column II | ||
| A. | Demand curve under perfect competition | (i) | Indeterminate demand curve |
| B. | Demand curve under monopoly | (ii) | Downward sloping but less elastic |
| C. | Demand curve under monopolistic competition | (iii) | Horizontal straight line |
| D. | Demand curve under oligopoly | (iv) | Elastic demand curve |
What is meant by pure competition?
Why is there no need for selling cost under perfect competition?
Identify the market form for the following:
Railways in India.
Name the market in which there is a single buyer and many sellers.
Define monopoly.
What is meant by barriers to entry?
