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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
Non-price competition is ______.
Explain three features of Perfect competitive market.
How is Perfect competitive market is different from a monopoly market?
Selling costs are absent in perfect competition market.
'Homogeneous products' is a characteristic of ______.
Indian Railways is an example of ______.
A monopolist is price maker:
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 |
Indian Oil Corporation Limited is an example of a/an ______.
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
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.
Imperfect knowledge is a characteristic feature of:
Which of the following market types has the fewest number of firms?
Mention two features of monopoly.
Give three points of difference between perfect competition and monopoly.
Define oligopoly.
Define monopsony.
Define product differentiation.
Why is there no need for selling cost under perfect competition?
Highlight the importance of selling costs in a monopolistically compatible market.
Identify the market form for the item given below:
A single seller
Define monopoly.
Which type of market structure is the following? Give reason.
Mobile phone services
Which type of market structure is the following? Give reason.
Soft drinks
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
What do you mean by homogeneous products?
What is meant by barriers to entry?
What is the difference between perfect and imperfect oligopoly?
Identify the market form from the following.
Firm is a price maker.
Mention one feature of a monopoly market.
In which market form is there a single seller and no close substitutes for the product?
