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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?
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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
Discuss any two features of a monopolistically competitive market.
In which type of market price discrimination is practiced? Explain with an example.
Selling costs are absent in perfect competition market.
Following is the feature of perfect competition:
Following is not the feature of perfect competition:
'A few big sellers' is a characteristic of ______.
Marginal revenue of a firm is constant throughout under:
A seller cannot influence the market price under:
A monopolist is price maker:
Which among the following is a feature of monopsony market?
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.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
Mention two features of monopoly.
Give three points of difference between perfect competition and monopoly.
Define oligopoly.
Give two characteristics of perfect competition.
State two important characteristics of monopoly.
Why is there no need for selling cost under perfect competition?
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.
Automobiles
State the market form of the following commodity.
Shampoos
Identify the market form for the item given below:
A single buyer
Define monopoly.
Give an example of monopoly.
Which type of market structure is the following? Give reason.
Jeans
Which type of market structure is the following? Give reason.
Ball-pen
With the help of an example explain the meaning of price discrimination.
What is meant by the term ‘price taker’?
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?
Identify the market form from the following.
Firm is a price maker.
Identify the market form from the following.
Perfect knowledge
Mention one feature of a monopoly market.
Why do producers incur high selling costs in an imperfect market?
Why an individual firm under perfect competition cannot influence the market price?
In which market form is there a single seller and no close substitutes for the product?
