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प्रश्न
To which market is product differentiation relevant?
To which market form is product differentiation relevant?
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उत्तर
Product differentiation is a key feature of monopolistic competition.
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संबंधित प्रश्न
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
Firm A hires the services of Rohit Sharma to act as the Brand ambassador for its products X. Identify the nature of market for commodity X.
“While shopping for fruits in the local market you see many seller selling fruits”. In this context answer the following:
- What is the type of market referred to?
- State and draw the type of demand curve faced by the market above.
- Differentiate between the market indicated above and monopoly on the basis of:
- No. of sellers
- Market price
- Entry and exit of firms in the market
Following is the feature of perfect competition:
Following is not the feature of perfect competition:
In monopolistic competition, there are ______.
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
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.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
State the advantage of monopolistic competition over monopoly.
Why is there no need for selling cost under perfect competition?
Identify the market form for the item given below:
A single seller
Define monopoly.
Explain the main characteristics of a monopoly.
Which type of market structure is the following? Give reason.
Trucks
Product differentiation is practised in monopolistic competition? Give reasons.
What is the effect on price when a monopoly firm tries to sell more?
In what respects does oligopoly differ from monopoly?
