Advertisements
Advertisements
प्रश्न
Discuss any four differences between monopoly and monopolistic competition.
Distinguish between monopoly and monopolistic competition.
In what ways does monopoly differ from monopolistic competition?
Advertisements
उत्तर
| Sr. No. | Basis | Monopoly | Monopolistic competition |
| 1. | Number of Sellers | There exists only single seller. | There are a large number of small sellers. |
| 2. | Product | Monopolist may sell homogeneous or differentiated products | Products are different but are close substitute of one another. |
| 3. | Entry of Firms | Entry of new firms in the market is restricted. | Free entry or exit of firms into the market. |
| 4. | Selling Costs | Only informative selling costs are incurred. | Huge amount of money is spent on advertisements, etc. |
APPEARS IN
संबंधित प्रश्न
Define Discriminating Monopoly.
Non-price competition is ______.
In which type of market price discrimination is practiced? Explain with an example.
Explain three features of Perfect competitive market.
Marginal revenue of a firm is constant throughout under:
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 |
"The price of a product under perfect competition is determined by an individual seller."
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
Observe the relationship of the first pair of words and complete the second pair.
Single seller in the market : Monopoly
Single buyer in the market : ______
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
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.
Which one of the following is NOT found in a perfectly competition market?
Which of the following is the least competitive market?
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.
Define oligopoly.
Give an example of monopsony.
Give two characteristics of perfect competition.
State two important characteristics of monopoly.
Define product differentiation.
In which form of market is the seller a price taker? Justify your answer.
Identify the market form of the following:
Motor car market in India.
Identify the market form of the following:
Market for toilet soaps in India.
Identify the market form for the following:
Perfectly elastic demand.
Identify the market form for the following:
Telecom industry in India.
State the market form of the following commodity.
Automobiles
Identify the market form for the item given below:
A single seller
Which type of market structure is the following? Give reason.
Lipstick
Which type of market structure is the following? Give reason.
Soft drinks
To which market is price discrimination relevant?
Give two examples of a monopolistically competitive market.
What is meant by the term ‘price taker’?
What is meant by barriers to entry?
What is the effect on price when a monopoly firm tries to sell more?
Name the characteristic which makes monopolistic competition different from perfect competition.
What is a price making firm?
Why are selling costs incurred?
In which type of market are firms interdependent and a few large firms dominate?
