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प्रश्न
Define monopsony.
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उत्तर
Monopsony refers to a situation in which there is a single buyer of a commodity and in which the entry into the market by other buyers is impossible.
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संबंधित प्रश्न
In which type of market price discrimination is practiced? Explain with an example.
Explain three features of Perfect competitive market.
A monopolist is price maker:
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
Match the following:
| Column I | Column II | ||
| A. | Monopoly | (i) | Availability of close substitutes |
| B. | Oligopoly | (ii) | Absence of close substitutes |
| C. | Perfect competition | (iii) | Few large sellers |
| D. | Monopolistic competition | (iv) | Homogeneous products |
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 |
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.
Mention two features of monopoly.
There are no substitute goods in a monopoly market. Give a reason to support your answer.
Define product differentiation.
Identify the market form of the following:
Market for toilet soaps in India.
Identify the market form for the following:
Railways in India.
Identify the market form for the following:
Textile industry in India.
State the market form of the following commodity.
Shampoos
Identify the market form for the item given below:
Product differentiation
Explain any four features of perfect competition.
Discuss any four differences between monopoly and monopolistic competition.
Which type of market structure is the following? Give reason.
Scooters
With the help of an example explain the meaning of price discrimination.
To which market is price discrimination relevant?
Give two examples of a monopolistically competitive market.
Why can a monopolist charge different prices in different markets?
What is the effect on price when a monopoly firm tries to sell more?
Mention one feature of a monopoly market.
Why are selling costs incurred?
In which market form is there a single seller and no close substitutes for the product?
Which statement correctly describes monopsony?
