Advertisements
Advertisements
प्रश्न
Give three points of difference between perfect competition and monopoly.
Discuss three differences between a perfectly competitive market and a monopoly.
Advertisements
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
Non-price competition is ______.
In which type of market price discrimination is practiced? Explain with an example.
A monopolist is price maker:
Why is there no need for selling cost under perfect competition?
State the market form of the following commodity.
Fighter Aircrafts
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Discuss any four differences between monopoly and monopolistic competition.
What do you mean by homogeneous products?
In which market form is there a single seller and no close substitutes for the product?
Which feature best distinguishes monopolistic competition from perfect competition?
