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प्रश्न
Indian Oil Corporation Limited is an example of a/an ______.
पर्याय
Competitive firm
Monopoly firm
Monopolistically competitive firm
Oligopolistic firm
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उत्तर
Indian Oil Corporation Limited is an example of a/an Oligopolistic firm.
Explanation:
Indian Oil Corporation Limited (IOCL) is an example of an oligopolistic company because it works in an oligopolistic market structure. In India's oil and gas business, a few large firms, such as IOCL, Bharat Petroleum, and Hindustan Petroleum, dominate the market, exerting strong control over pricing and output, as is typical of an oligopoly.
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संबंधित प्रश्न
Which one of the following is NOT found in a perfectly competition market?
Which of the following is the least 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 |
Producers in a monopoly are price makers. Briefly explain.
Give an example of oligopoly.
Identify the market form for the item given below:
Homogeneous goods
In which form of market do producers and consumers have perfect knowledge about the market conditions?
What does perfectly elastic demand curve faced by a competitive firm indicate?
There are a large number of buyers and sellers under a ______ market.
Why are selling costs incurred?
