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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
'A few big sellers' is a characteristic of ______.
Imperfect knowledge is a characteristic feature of:
Which of the following market types has the fewest number of firms?
Match the following:
| Column I | Column II | ||
| A. | Monopoly | (i) | Availability of close substitutes |
| B. | Oligopoly | (ii) | Absence of close substitutes |
| C. | Perfect competition | (iii) | Few large sellers |
| D. | Monopolistic competition | (iv) | Homogeneous products |
Mention two features of monopoly.
There are no substitute goods in a monopoly market. Give a reason to support your answer.
Define monopolistic competition.
State two important characteristics of monopoly.
What are selling costs?
Identify the market form for the following:
Railways in India.
State the market form of the following commodity.
Shampoos
Which type of market structure is the following? Give reason.
Mobile phone services
Product differentiation is practised in monopolistic competition? Give reasons.
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
Elaborate the price discrimination feature of monopoly.
Identify the market form from the following.
Perfect knowledge
Identify the market form from the following:
A few large sellers
Why do producers incur high selling costs in an imperfect market?
Which statement correctly describes monopsony?
