Advertisements
Advertisements
प्रश्न
Which type of market structure is the following? Give reason.
Jeans
Advertisements
उत्तर
The market structure for jeans is monopolistic competition.
Reason:
- The jeans market is controlled by several sellers, including Levi's, Wrangler, Lee, and several other brands that offer comparable items but differ in terms of style, quality, brand image, and pricing.
- Each brand has some pricing control due to product differentiation, but there are many competitors, and customers can easily switch brands.
- This is an important element of monopolistic competition, where firms compete based on product differentiation rather than price alone.
APPEARS IN
संबंधित प्रश्न
Match the following and select the correct option:
| Column I | Column II | ||
| (i) | Perfect competition | (A) | Differentiated Products |
| (ii) | Monopoly | (B) | Few large firms |
| (iii) | Monopolistic Competition | (C) | Single seller |
| (iv) | Oligopoly | (D) | Homogeneous products |
Which of the following statements are true?
- Monopolistically competitive markets have high selling costs.
- Monopolistically competitive markets sell homogeneous goods.
- Any firm can start a business in a monopolistically competitive market.
Identify the market form of the following:
Motor car market in India.
Identify the market form for the item given below:
Homogeneous goods
To which market form are homogeneous products relevant?
What does perfectly elastic demand curve faced by a competitive firm indicate?
In what respects does oligopoly differ from monopoly?
Name the characteristic which makes monopolistic competition different from perfect competition.
Why an individual firm under perfect competition cannot influence the market price?
Which statement correctly describes monopsony?
