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प्रश्न
In what respects does oligopoly differ from monopoly?
State any two differences between oligopoly and monopoly market.
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उत्तर
| Sr. No. | Basis | Oligopoly | Monopoly |
| 1. | No. of sellers: | There are few large sellers producing a commodity. | There is only a single seller in the market. |
| 2. | Entry of new firms: | Entry of new firms is difficult. | Entry of new firms is restricted. |
| 3. | Demand curve: | The demand curve is indeterminate. | The demand curve faced by a monopoly firm is less elastic. |
| 4. | Product Differentiation: | Products may be identical (e.g., cement) or differentiated (e.g., cars). | The product has no close substitutes. |
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संबंधित प्रश्न
Define Discriminating Monopoly.
In which type of market price discrimination is practiced? Explain with an example.
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- Discuss the features of this market form with respect to:
- Type of product
- Entry and exit of firms
- Selling cost
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Following is not the feature of perfect competition:
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A seller cannot influence the market price under:
Indian Railways is an example of ______.
A monopolist is price maker:
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
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.
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
Mention two features of monopoly.
Give an example of oligopoly.
Define monopsony.
Define product differentiation.
Highlight the importance of selling costs in a monopolistically compatible market.
In which form of market is the seller a price taker? Justify your answer.
Identify the market form of the following:
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Identify the market form for the item given below:
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Define monopoly.
Which type of market structure is the following? Give reason.
Lipstick
With the help of an example explain the meaning of price discrimination.
To which market is price discrimination relevant?
Name the market which has characteristics both of monopoly and perfect competition.
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 ______.
Mention one feature of a monopoly market.
In which type of market are firms interdependent and a few large firms dominate?
