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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
Selling costs are absent in perfect competition market.
Indian Oil Corporation Limited is an example of a/an ______.
What is meant by pure competition?
Give three points of difference between perfect competition and monopoly.
Identify the market form of the following:
The Government of India is the sole buyer of fighter aircrafts.
State the market form of the following commodity.
Fighter Aircrafts
Product differentiation is practised in monopolistic competition? Give reasons.
What is the difference between perfect and imperfect oligopoly?
There are a large number of buyers and sellers under a ______ market.
Which feature best distinguishes monopolistic competition from perfect competition?
