Advertisements
Advertisements
प्रश्न
The seller in a monopoly market is a price maker.
विकल्प
True
False
Advertisements
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.
APPEARS IN
संबंधित प्रश्न
Explain three features of Perfect competitive market.
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’.
'Homogeneous products' is a characteristic of ______.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
What is meant by pure competition?
Identify the market form of the following:
Goods sold are homogeneous.
Identify the market form of the following:
Market for toilet soaps in India.
Identify the market form from the following.
Perfect knowledge
There is inverse relation between price and demand for the product of a firm under ______.
Why an individual firm under perfect competition cannot influence the market price?
