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प्रश्न
The seller in a monopoly market is a price maker.
पर्याय
True
False
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उत्तर
This statement is True.
Explanation:
In a monopoly market, the seller sets the price since they are the lone provider of a product or service with no close substitutes. Because there are no competitors to affect market prices, the monopolist has considerable pricing power.
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संबंधित प्रश्न
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
Match the following:
| Column I | Column II | ||
| A. | Monopoly | (i) | Availability of close substitutes |
| B. | Oligopoly | (ii) | Absence of close substitutes |
| C. | Perfect competition | (iii) | Few large sellers |
| D. | Monopolistic competition | (iv) | Homogeneous products |
Give two characteristics of perfect competition.
Identify the market form of the following:
Motor car market in India.
Identify the market form for the following:
Perfectly elastic demand.
Explain any four features of perfect competition.
Discuss any four differences between monopoly and monopolistic competition.
What is meant by barriers to entry?
Identify the market form from the following:
A few large sellers
Which feature best distinguishes monopolistic competition from perfect competition?
