Advertisements
Advertisements
प्रश्न
Give two examples of a monopolistically competitive market.
Give an example of monopolistic competition.
Give two examples of monopolistically competitive market structure.
Give two examples of monopolistic markets in India.
Give two examples of monopolistic competition.
Advertisements
उत्तर
- One well-known example of monopolistic competition is the restaurant business. To set themselves apart from other restaurants, each restaurant provides a unique eating experience, food, atmosphere, and level of service.
- Another example is the clothing sector. Clothes from different brands serve the same basic purpose but differ in terms of price, design, brand reputation, and quality. Because of the uniqueness of its products, every brand has some degree of control over its price.
Notes
Students should refer to the answer according to their question.
APPEARS IN
संबंधित प्रश्न
Define Discriminating Monopoly.
Which two forms of market earn normal profit in the long run?
In which type of market price discrimination is practiced? Explain with an example.
How is Perfect competitive market is different from a monopoly market?
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
A monopolist is price maker:
Indian Oil Corporation Limited is an example of a/an ______.
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 |
"The price of a product under perfect competition is determined by an individual seller."
The seller in a monopoly market is a price maker.
Pick the option which does not belong to the group.
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.
Imperfect knowledge is a characteristic feature of:
Which of the following is the least competitive market?
Define oligopoly.
Define monopsony.
Give an example of monopsony.
Give two characteristics of perfect competition.
Define product differentiation.
What are selling costs?
Why is there no need for selling cost under perfect competition?
Highlight the importance of selling costs in a monopolistically compatible market.
Identify the market form for the following:
Perfectly elastic demand.
State the market form of the following commodity.
Shampoos
Identify the market form for the item given below:
A single seller
Define monopoly.
Explain the main characteristics of a monopoly.
Discuss any four differences between monopoly and monopolistic competition.
Which type of market structure is the following? Give reason.
Trucks
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
Why can a monopolist charge different prices in different markets?
What induces new firms to enter an industry?
What is the difference between perfect and imperfect oligopoly?
Why do producers incur high selling costs in an imperfect market?
Name the characteristic which makes monopolistic competition different from perfect competition.
What is a price making firm?
Which statement correctly describes monopsony?
