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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
Which two forms of market earn normal profit in the long run?
In which type of market price discrimination is practiced? Explain with an example.
Following is not the feature of perfect competition:
Differentiated products is a characteristic of ______.
Indian Railways is an example of ______.
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.
Which of the following market types has the fewest number of firms?
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.
What are selling costs?
Identify the market form of the following:
Market for toilet soaps in India.
Identify the market form for the following:
Railways in India.
State the market form of the following commodity.
Automobiles
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Which type of market structure is the following? Give reason.
Trucks
What is meant by the term ‘price taker’?
What is meant by barriers to entry?
Why are selling costs incurred?
In which type of market are firms interdependent and a few large firms dominate?
