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प्रश्न
Give three points of difference between perfect competition and monopoly.
Discuss three differences between a perfectly competitive market and a monopoly.
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उत्तर
| Sr. No. | Basis | Perfect competition | Monopoly |
| 1. | No. of sellers | There are very large number of sellers in the market. | There is a single firm in the market. |
| 2. | Price | There is a single firm in the market. | There is a single firm in the market. |
| 3. | Nature of product | Each firm produces and sells homogeneous product. | The firm produces and sells such product which does not have close substitutes in the market. |
Notes
Students should refer to the answer according to their questions.
संबंधित प्रश्न
Indian Oil Corporation Limited is an example of a/an ______.
The seller in a monopoly market is a price maker.
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
Define oligopoly.
Give an example of oligopoly.
State the advantage of monopolistic competition over monopoly.
Why is there no need for selling cost under perfect competition?
Give two examples of a monopolistically competitive market.
What is the difference between collusive and non-collusive oligopoly?
Which statement correctly describes monopsony?
