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प्रश्न
Define monopolistic competition.
Define a monopolistically competitive market.
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उत्तर
Monopolistic competition is a market structure in which the number of firms is large, there is free entry and exit of firms, and the firms produce differentiated products.
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संबंधित प्रश्न
Discuss any two features of a monopolistically competitive market.
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
Non-price competition is ______.
In which type of market price discrimination is practiced? Explain with an example.
'A few big sellers' is a characteristic of ______.
A seller cannot influence the market price under:
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
Which of the following statements are true?
- Monopolistically competitive markets have high selling costs.
- Monopolistically competitive markets sell homogeneous goods.
- Any firm can start a business in a monopolistically competitive market.
Identify the market form for seller A on the basis of the following information:
| Units of output sold | Price offered by seller A in ₹ |
| 30 | 10 |
| 40 | 10 |
| 50 | 10 |
Which one of the following is NOT found in a perfectly competition market?
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
Define perfect competition.
Give an example of oligopoly.
Define monopsony.
Give an example of monopsony.
Why is there no need for selling cost under perfect competition?
Identify the market form of the following:
The Government of India is the sole buyer of fighter aircrafts.
Identify the market form for the following:
Railways in India.
Identify the market form for the following:
Perfectly elastic demand.
Identify the market form for the following:
Telecom industry in India.
State the market form of the following commodity.
Automobiles
Identify the market form for the item given below:
A single seller
Identify the market form for the item given below:
Product differentiation
Define monopoly.
Which type of market structure is the following? Give reason.
Soft drinks
Give two examples of a monopolistically competitive market.
Which market form has the least number of producers?
What is the effect on price when a perfectly competitive firm tries to sell more?
In what respects does oligopoly differ from monopoly?
Identify the market form from the following.
Firm is a price maker.
Mention one feature of a monopoly market.
Name the characteristic which makes monopolistic competition different from perfect competition.
Why an individual firm under perfect competition cannot influence the market price?
Which statement correctly describes monopsony?
