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प्रश्न
How is Perfect competitive market is different from a monopoly market?
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उत्तर
Perfect competitive market is different from a monopoly market on the basis of following points:
- In a perfectly competitive market, sellers do not have control over the price. However, in a monopoly, the seller has complete control over the price.
- In a perfect competitive market, there are close substitutes, while in a monopoly, there are no available alternatives.
- In a competitive market, price is influenced by the interplay of demand and supply forces. However, in a monopoly, the seller has the power to determine the price. In a perfect competitive market, there are no barriers to entry.
- In monopoly, there exists a significant barrier to entry. There may be various barriers, such as patents or government regulations, that could potentially hinder progress.
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संबंधित प्रश्न
Discuss any two features of a monopolistically competitive market.
Read the given statements carefully and select the correct option.
- The number of sellers under oligopoly are small.
- In monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions.
State two important characteristics of monopoly.
State the market form of the following commodity.
Shampoos
Explain any four features of perfect competition.
Which type of market structure is the following? Give reason.
Mobile phone services
To which market form are homogeneous products relevant?
What is the effect on price when a perfectly competitive firm tries to sell more?
There are a large number of buyers and sellers under a ______ market.
Which of the following is an example of a perfectly competitive market?
