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प्रश्न
In what respects does oligopoly differ from monopoly?
State any two differences between oligopoly and monopoly market.
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उत्तर
| Sr. No. | Basis | Oligopoly | Monopoly |
| 1. | No. of sellers: | There are few large sellers producing a commodity. | There is only a single seller in the market. |
| 2. | Entry of new firms: | Entry of new firms is difficult. | Entry of new firms is restricted. |
| 3. | Demand curve: | The demand curve is indeterminate. | The demand curve faced by a monopoly firm is less elastic. |
| 4. | Product Differentiation: | Products may be identical (e.g., cement) or differentiated (e.g., cars). | The product has no close substitutes. |
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संबंधित प्रश्न
Define Discriminating Monopoly.
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
Selling costs are absent in perfect competition market.
'Homogeneous products' is a characteristic of ______.
Differentiated products is a characteristic of ______.
In monopolistic competition, there are ______.
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
The seller in a monopoly market is a price maker.
Which among the following is a feature of monopsony market?
Pick the option which does not belong to the group.
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:
Match the following:
| Column I | Column II | ||
| A. | Demand curve under perfect competition | (i) | Indeterminate demand curve |
| B. | Demand curve under monopoly | (ii) | Downward sloping but less elastic |
| C. | Demand curve under monopolistic competition | (iii) | Horizontal straight line |
| D. | Demand curve under oligopoly | (iv) | Elastic demand curve |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
Give three points of difference between perfect competition and monopoly.
Define oligopoly.
Give an example of oligopoly.
What are selling costs?
Highlight the importance of selling costs in a monopolistically compatible market.
Identify the market form for the following:
Telecom industry in India.
State the market form of the following commodity.
Automobiles
State the market form of the following commodity.
Fighter Aircrafts
Identify the market form for the item given below:
Product differentiation
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.
Discuss any four differences between monopoly and monopolistic competition.
Which type of market structure is the following? Give reason.
Scooters
Which type of market structure is the following? Give reason.
Lipstick
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
What do you mean by homogeneous products?
What is meant by the term ‘price taker’?
What is the effect on price when a monopoly firm tries to sell more?
What is the difference between perfect and imperfect oligopoly?
There is inverse relation between price and demand for the product of a firm under ______.
Which feature best distinguishes monopolistic competition from perfect competition?
Which statement correctly describes monopsony?
