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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
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
In which type of market price discrimination is practiced? Explain with an example.
Differentiated products is a characteristic of ______.
'A few big sellers' is a characteristic of ______.
Which among the following is a feature of monopsony 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.
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
Define perfect competition.
Mention two features of monopoly.
There are no substitute goods in a monopoly market. Give a reason to support your answer.
Give an example of oligopoly.
Define monopsony.
Give two characteristics of perfect competition.
Define product differentiation.
In which form of market is the seller a price taker? Justify your answer.
Identify the market form of the following:
Market for toilet soaps in India.
Identify the market form for the following:
Railways in India.
State the market form of the following commodity.
Shampoos
Identify the market form for the item given below:
A single seller
Identify the market form for the item given below:
Product differentiation
Identify the market form for the item given below:
A single buyer
Define monopoly.
Give an example of price discrimination.
Which type of market structure is the following? Give reason.
Trucks
Product differentiation is practised in monopolistic competition? Give reasons.
Why can a monopolist charge different prices in different markets?
What induces new firms to enter an industry?
What is meant by barriers to entry?
What is the effect on price when a perfectly competitive firm tries to sell more?
What is the effect on price when a monopoly firm tries to sell more?
What does perfectly elastic demand curve faced by a competitive firm indicate?
Elaborate the price discrimination feature of monopoly.
What is a price making firm?
Why are selling costs incurred?
In which market form is there a single seller and no close substitutes for the product?
In which type of market are firms interdependent and a few large firms dominate?
