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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
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
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Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
What is the difference between perfect and imperfect oligopoly?
What is the difference between collusive and non-collusive oligopoly?
Identify the market form from the following.
Firm is a price maker.
There is inverse relation between price and demand for the product of a firm under ______.
