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प्रश्न
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.
विकल्प
Both A and B are true
Both A and B are false
A is true, B is false
A is false, B is true
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उत्तर
A is true, B is false
Explanation:
- Statement A is true: An oligopoly is a market structure dominated by a small number of large sellers who have a sizable market share and are highly interdependent.
- Statement B is false: In a monopolistically competitive market, buyers and sellers have incomplete knowledge due to considerable product differentiation and heavy branding, making direct comparisons impossible. Perfect market knowledge is exclusively a feature of perfect competition.
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संबंधित प्रश्न
Explain three features of Perfect competitive market.
Pick the option which does not belong to the group.
Define product differentiation.
State the advantage of monopolistic competition over monopoly.
Identify the market form of the following:
Goods sold are homogeneous.
State the market form of the following commodity.
Fighter Aircrafts
Give an example of monopoly.
Discuss any four differences between monopoly and monopolistic competition.
What is the difference between collusive and non-collusive oligopoly?
Which of the following is an example of a perfectly competitive market?
