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.
Indian Railways is an example of ______.
Pick the option which does not belong to the group.
Define perfect competition.
Define monopsony.
Identify the market form for the item given below:
Homogeneous goods
Identify the market form for the item given below:
Product differentiation
Explain the main characteristics of a monopoly.
Which type of market structure is the following? Give reason.
Lipstick
Name the characteristic which makes monopolistic competition different from perfect competition.
