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
Define Discriminating Monopoly.
The image above shows a departmental store of a market structure.
- Identify the form of market as observed from the above image.
- Discuss the features of this market form with respect to:
- Type of product
- Entry and exit of firms
- Selling cost
How is Perfect competitive market is different from a monopoly market?
'A few big sellers' is a characteristic of ______.
A monopolist is price maker:
Indian Oil Corporation Limited is an example of a/an ______.
"The price of a product under perfect competition is determined by an individual seller."
The seller in a monopoly market is a price maker.
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
Which among the following is a feature of monopsony market?
Pick the option which does not belong to the group.
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:
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 |
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
Match the following:
| Column I | Column II | ||
| A. | Monopoly | (i) | Availability of close substitutes |
| B. | Oligopoly | (ii) | Absence of close substitutes |
| C. | Perfect competition | (iii) | Few large sellers |
| D. | Monopolistic competition | (iv) | Homogeneous products |
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 monopolistic competition.
Give two characteristics of perfect competition.
What are selling costs?
Identify the market form of the following:
Market for toilet soaps 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.
Fighter Aircrafts
Identify the market form for the item given below:
Product differentiation
Give an example of monopoly.
Give an example of price discrimination.
Explain the main characteristics of a monopoly.
Which type of market structure is the following? Give reason.
Scooters
Which type of market structure is the following? Give reason.
Ball-pen
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
What induces new firms to enter an industry?
What is meant by barriers to entry?
Why do producers incur high selling costs in an imperfect market?
Name the characteristic which makes monopolistic competition different from perfect competition.
Why an individual firm under perfect competition cannot influence the market price?
Which of the following is an example of a perfectly competitive market?
