Advertisements
Advertisements
प्रश्न
In which form of market is the seller a price taker? Justify your answer.
In which market form the firm is price taker?
“Under which type of a market are producers price takers?”
Under which market form a firm is a price-taker?
Advertisements
उत्तर
- In a perfectly competitive market, the seller is a price taker.
- In perfect competition, there are many sellers and purchasers in the market, and all firms sell identical (homogeneous) products. Because each firm’s output is small in comparison to the entire market supply, no single seller can influence market price.
- Because all businesses sell the same commodities, no company can differentiate its product sufficiently to demand a higher price, requiring every seller to be a price taker.
Notes
Students should refer to the answer according to the question.
APPEARS IN
संबंधित प्रश्न
Which two forms of market earn normal profit in the long run?
Identify the market having a single buyer and many sellers from the following:
Non-price competition is ______.
Firm A hires the services of Rohit Sharma to act as the Brand ambassador for its products X. Identify the nature of market for commodity X.
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
'Homogeneous products' is a characteristic of ______.
Match the following and select the correct option:
| Column I | Column II | ||
| (i) | Perfect competition | (A) | Differentiated Products |
| (ii) | Monopoly | (B) | Few large firms |
| (iii) | Monopolistic Competition | (C) | Single seller |
| (iv) | Oligopoly | (D) | Homogeneous products |
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
"The price of a product under perfect competition is determined by an individual seller."
Observe the relationship of the first pair of words and complete the second pair.
Single seller in the market : Monopoly
Single buyer in the market : ______
The seller in a monopoly market is a price maker.
Which among the following is a feature of monopsony market?
Identify the market form for seller A on the basis of the following information:
| Units of output sold | Price offered by seller A in ₹ |
| 30 | 10 |
| 40 | 10 |
| 50 | 10 |
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.
Define oligopoly.
State two important characteristics of monopoly.
Identify the market form of the following:
The Government of India is the sole buyer of fighter aircrafts.
Identify the market form for the following:
Railways in India.
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.
Shampoos
Identify the market form for the item given below:
Homogeneous goods
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.
Discuss any four differences between monopoly and monopolistic competition.
With the help of an example explain the meaning of price discrimination.
What is meant by barriers to entry?
What is the effect on price when a perfectly competitive firm tries to sell more?
Identify the market form from the following.
Price discrimination
There are a large number of buyers and sellers under a ______ market.
Mention one feature of a monopoly market.
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?
