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प्रश्न
State the advantage of monopolistic competition over monopoly.
Giving reasons state the advantages of monopolistic competition over monopoly.
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उत्तर
Advantages of monopolistic competition over monopoly.
- The price charged by a firm under monopolistic competition is lower than the price charged by a monopolist.
- Large varieties of the product are available in monopolistic competition, whereas a monopolist generally provides only one variety of the product.
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संबंधित प्रश्न
Define Discriminating Monopoly.
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
Explain three features of Perfect competitive market.
“While shopping for fruits in the local market you see many seller selling fruits”. In this context answer the following:
- What is the type of market referred to?
- State and draw the type of demand curve faced by the market above.
- Differentiate between the market indicated above and monopoly on the basis of:
- No. of sellers
- Market price
- Entry and exit of firms in the market
Following is the feature of perfect competition:
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
Which one of the following is NOT found in a perfectly competition market?
To which market is product differentiation relevant?
In which form of market is the seller a price taker? Justify your answer.
Identify the market form for the following:
Railways in India.
Identify the market form for the following:
Perfectly elastic demand.
Identify the market form for the item given below:
A single seller
Identify the market form for the item given below:
Homogeneous goods
Product differentiation is practised in monopolistic competition? Give reasons.
Which market form has the least number of producers?
Identify the market form from the following.
Perfect knowledge
There are a large number of buyers and sellers under a ______ market.
Which feature best distinguishes monopolistic competition from perfect competition?
