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प्रश्न
What does perfectly elastic demand curve faced by a competitive firm indicate?
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उत्तर
A perfectly elastic demand curve faced by a competitive firm indicates that a price is given to the firm, and the firm has no control over the given price.
संबंधित प्रश्न
Which two forms of market earn normal profit in the long run?
In which type of market price discrimination is practiced? Explain with an example.
A seller cannot influence the market price under:
"The price of a product under perfect competition is determined by an individual seller."
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
Read the given statements carefully and select the correct option.
- The number of sellers under oligopoly are small.
- In monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions.
Match the following:
| Column I | Column II | ||
| A. | Demand curve under perfect competition | (i) | Indeterminate demand curve |
| B. | Demand curve under monopoly | (ii) | Downward sloping but less elastic |
| C. | Demand curve under monopolistic competition | (iii) | Horizontal straight line |
| D. | Demand curve under oligopoly | (iv) | Elastic demand curve |
Define perfect competition.
Define monopsony.
In which form of market is the seller a price taker? Justify your answer.
Identify the market form of the following:
Goods sold are homogeneous.
Identify the market form for the following:
Telecom industry in India.
Identify the market form for the item given below:
A single seller
Identify the market form for the item given below:
Homogeneous goods
Identify the market form for the item given below:
Product differentiation
Product differentiation is practised in monopolistic competition? Give reasons.
With the help of an example explain the meaning of price discrimination.
What is meant by the term ‘price taker’?
There are a large number of buyers and sellers under a ______ market.
