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प्रश्न
Mention one feature of a monopoly market.
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उत्तर
- Single seller and large number of buyers:
- Under monopoly, there is only one seller, firm or manufacturer of a commodity. The product sold by the monopolist may or may not be homogenous. The existence of a single seller of one product eliminates the difference between the firm and the industry.
- There can be any number of buyers under monopoly.
- No Close Substitutes: A second feature of monopoly is that there are no close substitutes available for the product sold by the monopolist. A pure monopoly exists only when there is no close substitute for the product sold by the monopolist.
संबंधित प्रश्न
Identify the market having a single buyer and many sellers from the following:
In which type of market price discrimination is practiced? Explain with an example.
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
Following is the feature of perfect competition:
Indian Railways is an example of ______.
A monopolist is price maker:
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
Pick the option which does not belong to the group.
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.
Producers in a monopoly are price makers. Briefly explain.
State two important characteristics of monopoly.
To which market is product differentiation relevant?
Identify the market form for the following:
Perfectly elastic demand.
State the market form of the following commodity.
Fighter Aircrafts
Give two examples of a monopolistically competitive market.
What is the difference between perfect and imperfect oligopoly?
In what respects does oligopoly differ from monopoly?
Why do producers incur high selling costs in an imperfect market?
Why an individual firm under perfect competition cannot influence the market price?
