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प्रश्न
State two important characteristics of monopoly.
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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.
संबंधित प्रश्न
Which two forms of market earn normal profit in the long run?
Following is not the feature of perfect competition:
Pick the option which does not belong to the group.
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
Give an example of monopsony.
Identify the market form for the item given below:
A single buyer
Which type of market structure is the following? Give reason.
Trucks
Which type of market structure is the following? Give reason.
Scooters
To which market is price discrimination relevant?
