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प्रश्न
Identify the market having a single buyer and many sellers from the following:
विकल्प
Monopoly
Monopsony
Perfect competition
Monopolistic competition
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उत्तर
Monopsony
Explanation:
In a monopsony market system, there is only one buyer, and hence that buyer has tremendous power over demand. Because there are so many vendors, the buyer can obtain significant bargaining power and determine their terms.
संबंधित प्रश्न
"The price of a product under perfect competition is determined by an individual seller."
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
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.
Imperfect knowledge is a characteristic feature of:
State two important characteristics of monopoly.
Identify the market form for the item given below:
A single buyer
Which type of market structure is the following? Give reason.
Mobile phone services
What is meant by barriers to entry?
What is the effect on price when a perfectly competitive firm tries to sell more?
What is a price making firm?
