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प्रश्न
State two important characteristics of monopoly.
थोडक्यात उत्तर
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उत्तर
Characteristics of monopoly are as follows:
- There is only a single firm in the market.
- No close substitutes of the product are available in the market.
- Firm is a price maker.
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या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
संबंधित प्रश्न
Marginal revenue of a firm is constant throughout under:
A seller cannot influence the market price under:
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
Give two characteristics of perfect competition.
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Name the market in which there is a single buyer and many sellers.
Which type of market structure is the following? Give reason.
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To which market is price discrimination relevant?
What is meant by the term ‘price taker’?
Elaborate the price discrimination feature of monopoly.
