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प्रश्न
Why can a monopolist charge different prices in different markets?
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उत्तर
- Due to the monopolist's power in the market and the absence of competition, they are able to set different pricing in other markets.
- This authority is frequently exercised through price discrimination, in which the monopolist establishes various prices according to variables such as the willingness to pay, the purchasing power, and the elasticity of demand in various markets.
- Because they are the only ones offering a certain commodity or service, monopolists can strategically change their prices to maximise profits across a range of market groups.
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संबंधित प्रश्न
Following is the feature of perfect competition:
Which one of the following is NOT found in a perfectly competition market?
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
Give two characteristics of perfect competition.
What are selling costs?
State the advantage of monopolistic competition over monopoly.
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Product differentiation is practised in monopolistic competition? Give reasons.
What does perfectly elastic demand curve faced by a competitive firm indicate?
In which type of market are firms interdependent and a few large firms dominate?
