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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?
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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. |
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संबंधित प्रश्न
Define Discriminating Monopoly.
Non-price competition is ______.
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’.
Selling costs are absent in perfect competition market.
Differentiated products is a characteristic of ______.
Indian Railways is an example of ______.
There is no difference between perfect competition and pure competition.
"The price of a product under perfect competition is determined by an individual seller."
Which among the following is a feature of monopsony market?
Pick the option which does not belong to the group.
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
Read the given statements carefully and select the correct option.
- The number of sellers under oligopoly are small.
- In monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions.
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
Which of the following is the least competitive market?
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
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.
Define perfect competition.
Define monopsony.
Give an example of monopsony.
Define product differentiation.
Why is there no need for selling cost under perfect competition?
In which form of market is the seller a price taker? Justify your answer.
Identify the market form of the following:
Market for toilet soaps in India.
Identify the market form for the following:
Railways in India.
State the market form of the following commodity.
Railways
State the market form of the following commodity.
Automobiles
State the market form of the following commodity.
Fighter Aircrafts
Name the market in which there is a single buyer and many sellers. Give an example.
With the help of an example explain the meaning of price discrimination.
What is the effect on price when a monopoly firm tries to sell more?
What does perfectly elastic demand curve faced by a competitive firm indicate?
Identify the market form from the following:
A few large sellers
There is inverse relation between price and demand for the product of a firm under ______.
Name the characteristic which makes monopolistic competition different from perfect competition.
Why an individual firm under perfect competition cannot influence the market price?
Which of the following is an example of a perfectly competitive market?
Which feature best distinguishes monopolistic competition from perfect competition?
Which statement correctly describes monopsony?
