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प्रश्न
Mention one feature of a monopoly market.
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उत्तर
- Single seller and large number of buyers:
- Under monopoly, there is only one seller, firm or manufacturer of a commodity. The product sold by the monopolist may or may not be homogenous. The existence of a single seller of one product eliminates the difference between the firm and the industry.
- There can be any number of buyers under monopoly.
- No Close Substitutes: A second feature of monopoly is that there are no close substitutes available for the product sold by the monopolist. A pure monopoly exists only when there is no close substitute for the product sold by the monopolist.
संबंधित प्रश्न
Identify the market having a single buyer and many sellers from the following:
Selling costs are absent in perfect competition market.
“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
Following is the feature of perfect competition:
Marginal revenue of a firm is constant throughout under:
Indian Railways is an example of ______.
"The price of a product under perfect competition is determined by an individual seller."
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
Pick the option which does not belong to the group.
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): 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.
To which market is product differentiation relevant?
What are selling costs?
Identify the market form for the following:
Railways in India.
Identify the market form for the item given below:
Homogeneous goods
Define monopoly.
Which type of market structure is the following? Give reason.
Trucks
What induces new firms to enter an industry?
Name the market which has characteristics both of monopoly and perfect competition.
What is a price making firm?
