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प्रश्न
Which type of market structure is the following? Give reason.
Ball-pen
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उत्तर
The market structure for ball pens is monopolistic competition.
Reason:
- Many ball-pen manufacturers, including Parker, Reynolds, Cello, and others, provide identical devices with minor differences in design, ink quality, pricing, and branding.
- Each company tries to differentiate its product to attract customers, and while there are numerous brands, no single firm dominates the market.
- Monopolistic competition is defined by its focus on product differentiation and the presence of many enterprises.
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संबंधित प्रश्न
Define Discriminating Monopoly.
Identify the market having a single buyer and many sellers from the following:
Selling costs are absent in perfect competition market.
In monopolistic competition, there are ______.
"The price of a product under perfect competition is determined by an individual seller."
Mention two features of monopoly.
Identify the market form for the item given below:
Product differentiation
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Name the market in which there is a single buyer and many sellers.
There is inverse relation between price and demand for the product of a firm under ______.
