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प्रश्न
State the advantage of monopolistic competition over monopoly.
Giving reasons state the advantages of monopolistic competition over monopoly.
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उत्तर
Advantages of monopolistic competition over monopoly.
- The price charged by a firm under monopolistic competition is lower than the price charged by a monopolist.
- Large varieties of the product are available in monopolistic competition, whereas a monopolist generally provides only one variety of the product.
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संबंधित प्रश्न
Define Discriminating Monopoly.
Which two forms of market earn normal profit in the long run?
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 |
Observe the relationship of the first pair of words and complete the second pair.
Single seller in the market : Monopoly
Single buyer in the market : ______
The seller in a monopoly market is a price maker.
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.
Define perfect competition.
Define product differentiation.
Why is there no need for selling cost under perfect competition?
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.
Shampoos
State the market form of the following commodity.
Fighter Aircrafts
Identify the market form for the item given below:
A single seller
Which type of market structure is the following? Give reason.
Trucks
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
What is meant by the term ‘price taker’?
Elaborate the price discrimination feature of monopoly.
Which statement correctly describes monopsony?
