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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
Explain three features of Perfect competitive market.
Match the following and select the correct option:
| Column I | Column II | ||
| (i) | Perfect competition | (A) | Differentiated Products |
| (ii) | Monopoly | (B) | Few large firms |
| (iii) | Monopolistic Competition | (C) | Single seller |
| (iv) | Oligopoly | (D) | Homogeneous products |
Which one of the following is NOT found in a perfectly competition market?
What is meant by pure competition?
Give an example of oligopoly.
To which market is product differentiation relevant?
Identify the market form for the following:
Railways in India.
Why can a monopolist charge different prices in different markets?
What is meant by the term ‘price taker’?
Which market form has the least number of producers?
