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प्रश्न
Define monopolistic competition.
Define a monopolistically competitive market.
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उत्तर
Monopolistic competition is a market structure in which the number of firms is large, there is free entry and exit of firms, and the firms produce differentiated products.
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संबंधित प्रश्न
Identify the market having a single buyer and many sellers from the following:
How is Perfect competitive market is different from a monopoly market?
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
'Homogeneous products' is a characteristic of ______.
'A few big sellers' is a characteristic of ______.
In monopolistic competition, there are ______.
A monopolist is price maker:
Pick the option which does not belong to the group.
Identify the market form for seller A on the basis of the following information:
| Units of output sold | Price offered by seller A in ₹ |
| 30 | 10 |
| 40 | 10 |
| 50 | 10 |
Match the following:
| Column I | Column II | ||
| A. | Monopoly | (i) | Availability of close substitutes |
| B. | Oligopoly | (ii) | Absence of close substitutes |
| C. | Perfect competition | (iii) | Few large sellers |
| D. | Monopolistic competition | (iv) | Homogeneous products |
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 |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
There are no substitute goods in a monopoly market. Give a reason to support your answer.
State two important characteristics of monopoly.
Why is there no need for selling cost under perfect competition?
Identify the market form of the following:
Goods sold are homogeneous.
Identify the market form of the following:
Motor car market in India.
Identify the market form for the following:
Textile industry in India.
Identify the market form for the item given below:
A single seller
Name the market in which there is a single buyer and many sellers. Give an example.
Give an example of price discrimination.
Explain any four features of perfect competition.
Which type of market structure is the following? Give reason.
Jeans
Which type of market structure is the following? Give reason.
Ball-pen
With the help of an example explain the meaning of price discrimination.
Give two examples of a monopolistically competitive market.
What do you mean by homogeneous products?
What is the difference between collusive and non-collusive oligopoly?
Elaborate the price discrimination feature of monopoly.
Identify the market form from the following.
Firm is a price maker.
Identify the market form from the following.
Perfect knowledge
Mention one feature of a monopoly market.
Why an individual firm under perfect competition cannot influence the market price?
In which market form is there a single seller and no close substitutes for the product?
Which statement correctly describes monopsony?
