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प्रश्न
State two important characteristics of monopoly.
संक्षेप में उत्तर
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उत्तर
Characteristics of monopoly are as follows:
- There is only a single firm in the market.
- No close substitutes of the product are available in the market.
- Firm is a price maker.
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संबंधित प्रश्न
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'Homogeneous products' is a characteristic of ______.
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Identify the market form for the following:
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To which market form are homogeneous products relevant?
What is meant by the term ‘price taker’?
What induces new firms to enter an industry?
What is the difference between perfect and imperfect oligopoly?
Why an individual firm under perfect competition cannot influence the market price?
