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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.
In which type of market price discrimination is practiced? Explain with an example.
Explain three features of Perfect competitive market.
Read the given statements carefully and select the correct option.
- The number of sellers under oligopoly are small.
- In monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions.
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 |
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
Which of the following is the least competitive market?
What is meant by pure competition?
There are no substitute goods in a monopoly market. Give a reason to support your answer.
Give three points of difference between perfect competition and monopoly.
Define oligopoly.
Identify the market form for the following:
Railways in India.
State the market form of the following commodity.
Fighter Aircrafts
Give an example of monopoly.
Give an example of price discrimination.
Which type of market structure is the following? Give reason.
Mobile phone services
What induces new firms to enter an industry?
What is the difference between perfect and imperfect oligopoly?
Identify the market form from the following:
A few large sellers
Which of the following is an example of a perfectly competitive market?
