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प्रश्न
Name the characteristic which makes monopolistic competition different from perfect competition.
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उत्तर
The goods produced by the firms under monopolistic competition are not homogeneous like in the case of perfect competition. Firms under monopolistic competition produce differentiated products.
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संबंधित प्रश्न
Following is not the feature of perfect competition:
There is no difference between perfect competition and pure competition.
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.
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 |
Define perfect competition.
What are selling costs?
Which type of market structure is the following? Give reason.
Scooters
With the help of an example explain the meaning of price discrimination.
Why can a monopolist charge different prices in different markets?
Identify the market form from the following.
Perfect knowledge
