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प्रश्न
The seller in a monopoly market is a price maker.
विकल्प
True
False
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उत्तर
This statement is True.
Explanation:
In a monopoly market, the seller sets the price since they are the lone provider of a product or service with no close substitutes. Because there are no competitors to affect market prices, the monopolist has considerable pricing power.
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संबंधित प्रश्न
Which two forms of market earn normal profit in the long run?
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
Differentiated products is a characteristic of ______.
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
Which of the following is the least competitive market?
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
Give two characteristics of perfect competition.
Identify the market form for the item given below:
A single buyer
To which market form are homogeneous products relevant?
What is meant by barriers to entry?
