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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
Identify the market having a single buyer and many sellers from the following:
“While shopping for fruits in the local market you see many seller selling fruits”. In this context answer the following:
- What is the type of market referred to?
- State and draw the type of demand curve faced by the market above.
- Differentiate between the market indicated above and monopoly on the basis of:
- No. of sellers
- Market price
- Entry and exit of firms in the market
Which of the following market types has the fewest number of firms?
Define monopsony.
State the market form of the following commodity.
Automobiles
State the market form of the following commodity.
Shampoos
State the market form of the following commodity.
Fighter Aircrafts
Product differentiation is practised in monopolistic competition? Give reasons.
What is the effect on price when a perfectly competitive firm tries to sell more?
In which type of market are firms interdependent and a few large firms dominate?
