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प्रश्न
What is meant by the term ‘price taker’?
What is meant by price-taker?
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उत्तर
Price taker means that an individual firm has no option but to sell its product at a market-determined price.
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संबंधित प्रश्न
Discuss any two features of a monopolistically competitive market.
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
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 |
The seller in a monopoly market is a price maker.
Pick the option which does not belong to the group.
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
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Identify the market form for seller A on the basis of the following information:
| Units of output sold | Price offered by seller A in ₹ |
| 30 | 10 |
| 40 | 10 |
| 50 | 10 |
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
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Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
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Give an example of oligopoly.
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Why is there no need for selling cost under perfect competition?
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Name the characteristic which makes monopolistic competition different from perfect competition.
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