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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
Following is the feature of perfect competition:
Following is not the feature of perfect competition:
In monopolistic competition, there are ______.
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 |
Pick the option which does not belong to the group.
Which of the following market types has the fewest number of firms?
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 |
Define product differentiation.
Identify the market form of the following:
The Government of India is the sole buyer of fighter aircrafts.
State the market form of the following commodity.
Railways
Identify the market form for the item given below:
Product differentiation
Identify the market form for the item given below:
A single buyer
Discuss any four differences between monopoly and monopolistic competition.
Which type of market structure is the following? Give reason.
Soft drinks
To which market is price discrimination relevant?
What is meant by barriers to entry?
Identify the market form from the following:
A few large sellers
Which statement correctly describes monopsony?
