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प्रश्न
Discuss any four differences between monopoly and monopolistic competition.
Distinguish between monopoly and monopolistic competition.
In what ways does monopoly differ from monopolistic competition?
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उत्तर
| Sr. No. | Basis | Monopoly | Monopolistic competition |
| 1. | Number of Sellers | There exists only single seller. | There are a large number of small sellers. |
| 2. | Product | Monopolist may sell homogeneous or differentiated products | Products are different but are close substitute of one another. |
| 3. | Entry of Firms | Entry of new firms in the market is restricted. | Free entry or exit of firms into the market. |
| 4. | Selling Costs | Only informative selling costs are incurred. | Huge amount of money is spent on advertisements, etc. |
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संबंधित प्रश्न
Non-price competition is ______.
The image above shows a departmental store of a market structure.
- Identify the form of market as observed from the above image.
- Discuss the features of this market form with respect to:
- Type of product
- Entry and exit of firms
- Selling cost
Following is the feature of perfect competition:
'Homogeneous products' is a characteristic of ______.
Differentiated products is a characteristic of ______.
'A few big sellers' is a characteristic of ______.
Marginal revenue of a firm is constant throughout under:
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
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.
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
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 |
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
Define oligopoly.
What are selling costs?
State the advantage of monopolistic competition over monopoly.
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Give an example of price discrimination.
Explain any four features of perfect competition.
Explain the main characteristics of a monopoly.
Which type of market structure is the following? Give reason.
Lipstick
Product differentiation is practised in monopolistic competition? Give reasons.
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
With the help of an example explain the meaning of price discrimination.
Give two examples of a monopolistically competitive market.
What is meant by the term ‘price taker’?
What does perfectly elastic demand curve faced by a competitive firm indicate?
Identify the market form from the following.
Price discrimination
There is inverse relation between price and demand for the product of a firm under ______.
Why an individual firm under perfect competition cannot influence the market price?
Why are selling costs incurred?
In which type of market are firms interdependent and a few large firms dominate?
