Advertisements
Advertisements
प्रश्न
In monopolistic competition, there are ______.
पर्याय
Few firms selling differentiated products.
Large number of firms selling differentiated products.
Large number of firms selling homogeneous products.
Few firms selling a homogeneous products.
Advertisements
उत्तर
In monopolistic competition, there are large number of firms selling differentiated products.
Explanation:
The monopolistic competition involves many enterprises, each selling a differentiated product. These products are similar but not identical, allowing businesses to maintain some pricing control while competing in the marketplace.
संबंधित प्रश्न
Which two forms of market earn normal profit in the long run?
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’.
Firm A hires the services of Rohit Sharma to act as the Brand ambassador for its products X. Identify the nature of market for commodity X.
Indian Railways is an example of ______.
The seller in a monopoly market is a price maker.
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.
Match the following:
| Column I | Column II | ||
| A. | Monopoly | (i) | Availability of close substitutes |
| B. | Oligopoly | (ii) | Absence of close substitutes |
| C. | Perfect competition | (iii) | Few large sellers |
| D. | Monopolistic competition | (iv) | Homogeneous products |
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 |
There are no substitute goods in a monopoly market. Give a reason to support your answer.
Highlight the importance of selling costs in a monopolistically compatible market.
Identify the market form of the following:
Goods sold are homogeneous.
State the market form of the following commodity.
Shampoos
With the help of an example explain the meaning of price discrimination.
What does perfectly elastic demand curve faced by a competitive firm indicate?
Identify the market form from the following.
Firm is a price maker.
Identify the market form from the following.
Perfect knowledge
There is inverse relation between price and demand for the product of a firm under ______.
Which feature best distinguishes monopolistic competition from perfect competition?
Which statement correctly describes monopsony?
