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प्रश्न
Identify the market form of the following:
Market for toilet soaps in India.
Which type of market structure is the following? Give reason.
Toilet soap
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उत्तर
The market for toilet soaps in India represents monopolistic competition.
Reason:
- Lux, Dove, Pears, Nivea, Lifebuoy, and more merchants compete in the Indian toilet soap industry, offering various goods. While the core product (toilet soap) serves the same purpose, manufacturers differentiate their soaps through packaging, smell, quality, and marketing tactics.
- This product differentiation, along with a large number of suppliers, is characteristic of monopolistic competition.
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संबंधित प्रश्न
Discuss any two features of a monopolistically competitive market.
Identify the market having a single buyer and many sellers from the following:
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’.
“While shopping for fruits in the local market you see many seller selling fruits”. In this context answer the following:
- What is the type of market referred to?
- State and draw the type of demand curve faced by the market above.
- Differentiate between the market indicated above and monopoly on the basis of:
- No. of sellers
- Market price
- Entry and exit of firms in the market
Marginal revenue of a firm is constant throughout under:
In monopolistic competition, there are ______.
There is no difference between perfect competition and pure competition.
A holiday resort in a remote village is very popular among the tourists. Since the connectivity is very poor with the outer world, the owner employs the local villagers for the functioning of the resort.
This is a case of:
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.
Define monopsony.
Why is there no need for selling cost under perfect competition?
Highlight the importance of selling costs in a monopolistically compatible market.
Which type of market structure is the following? Give reason.
Mobile phone services
Which type of market structure is the following? Give reason.
Lipstick
What is the difference between collusive and non-collusive oligopoly?
What does perfectly elastic demand curve faced by a competitive firm indicate?
There is inverse relation between price and demand for the product of a firm under ______.
Why an individual firm under perfect competition cannot influence the market price?
Which statement correctly describes monopsony?
