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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
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’.
Following is not the feature of perfect competition:
Match the following and select the correct option:
| Column I | Column II | ||
| (i) | Perfect competition | (A) | Differentiated Products |
| (ii) | Monopoly | (B) | Few large firms |
| (iii) | Monopolistic Competition | (C) | Single seller |
| (iv) | Oligopoly | (D) | Homogeneous products |
Pick the option which does not belong to the group.
Identify the market form for seller A on the basis of the following information:
| Units of output sold | Price offered by seller A in ₹ |
| 30 | 10 |
| 40 | 10 |
| 50 | 10 |
State two important characteristics of monopoly.
Which type of market structure is the following? Give reason.
Trucks
Which type of market structure is the following? Give reason.
Jeans
What is the difference between perfect and imperfect oligopoly?
