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प्रश्न
State two important characteristics of monopoly.
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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.
संबंधित प्रश्न
Which of the following is the least competitive market?
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.
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.
Identify the market form of the following:
Motor car market in India.
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Give an example of price discrimination.
Give two examples of a monopolistically competitive market.
In what respects does oligopoly differ from monopoly?
Why are selling costs incurred?
