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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
Discuss any two features of a monopolistically competitive market.
Following is the feature of perfect competition:
A monopolist is price maker:
Pick the option which does not belong to the group.
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
Give an example of monopsony.
Give two characteristics of perfect competition.
Identify the market form of the following:
Goods sold are homogeneous.
Identify the market form for the item given below:
Product differentiation
Explain the main characteristics of a monopoly.
Discuss any four differences between monopoly and monopolistic competition.
What do you mean by homogeneous products?
What induces new firms to enter an industry?
What is the difference between collusive and non-collusive oligopoly?
In what respects does oligopoly differ from monopoly?
Identify the market form from the following:
A few large sellers
