Advertisements
Advertisements
प्रश्न
Producers in a monopoly are price makers. Briefly explain.
Why is a monopoly firm called a price-maker?
Advertisements
उत्तर
- In a monopoly, manufacturers are called price makers since they have massive market power due to the lack of competition.
- A monopolist is the sole manufacturer of a specific product or service, meaning no close substitutes exist.
- This absence of competition allows the monopolist to establish the product's price rather than being forced to accept a market-determined price as under perfect competition.
APPEARS IN
संबंधित प्रश्न
Define Discriminating Monopoly.
Identify the market having a single buyer and many sellers from the following:
Non-price competition is ______.
Explain three features of Perfect competitive market.
Following is the feature of perfect competition:
'A few big sellers' is a characteristic of ______.
The seller in a monopoly market is a 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.
Which of the following statements are true?
- Monopolistically competitive markets have high selling costs.
- Monopolistically competitive markets sell homogeneous goods.
- Any firm can start a business in a monopolistically competitive market.
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
Identify the market form of the following:
Motor car market in India.
Give an example of monopoly.
Explain any four features of perfect competition.
Which type of market structure is the following? Give reason.
Scooters
Why can a monopolist charge different prices in different markets?
Which market form has the least number of producers?
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?
