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प्रश्न
How is Perfect competitive market is different from a monopoly market?
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उत्तर
Perfect competitive market is different from a monopoly market on the basis of following points:
- In a perfectly competitive market, sellers do not have control over the price. However, in a monopoly, the seller has complete control over the price.
- In a perfect competitive market, there are close substitutes, while in a monopoly, there are no available alternatives.
- In a competitive market, price is influenced by the interplay of demand and supply forces. However, in a monopoly, the seller has the power to determine the price. In a perfect competitive market, there are no barriers to entry.
- In monopoly, there exists a significant barrier to entry. There may be various barriers, such as patents or government regulations, that could potentially hinder progress.
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संबंधित प्रश्न
Identify the market having a single buyer and many sellers from the following:
Indian Oil Corporation Limited is an example of a/an ______.
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 among the following is a feature of monopsony market?
Identify the market form for the item given below:
Homogeneous goods
Which type of market structure is the following? Give reason.
Ball-pen
To which market form are homogeneous products relevant?
Which market form has the least number of producers?
What is the difference between collusive and non-collusive oligopoly?
In which type of market are firms interdependent and a few large firms dominate?
