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प्रश्न
Following is the feature of perfect competition:
पर्याय
Product differentiation
Homogeneous product
Barriers to entry
Less elastic
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उत्तर
Homogeneous product
Explanation:
In perfect competition, all firms supply a homogeneous product, which means that the items produced by different enterprises appear identical to consumers. There is no product differentiation, and customers don't favour one company's goods over another.
संबंधित प्रश्न
In which type of market price discrimination is practiced? Explain with an example.
How is Perfect competitive market is different from a monopoly market?
Selling costs are absent in perfect competition 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 |
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.
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 |
Mention two features of monopoly.
Highlight the importance of selling costs in a monopolistically compatible market.
Identify the market form for the following:
Telecom industry in India.
State the market form of the following commodity.
Shampoos
State the market form of the following commodity.
Fighter Aircrafts
Which type of market structure is the following? Give reason.
Mobile phone services
To which market form are homogeneous products relevant?
What is the effect on price when a monopoly firm tries to sell more?
Elaborate the price discrimination feature of monopoly.
Identify the market form from the following.
Price discrimination
Identify the market form from the following:
A few large sellers
What is a price making firm?
