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प्रश्न
What is the difference between perfect and imperfect oligopoly?
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उत्तर
| S. No. | Feature | Perfect Oligopoly | Imperfect Oligopoly |
| 1. | Product Differentiation | Products are homogeneous (identical). | Products are differentiated (varied in some way). |
| 2. | Competition | Firms compete primarily on price. | Firms compete on both price and non-price factors (e.g., branding, features). |
| 3. | Examples | Markets for basic commodities like steel, cement. | Markets for cars, electronics, and branded goods. |
संबंधित प्रश्न
Explain three features of Perfect competitive market.
Following is not the feature of perfect competition:
'A few big sellers' is a characteristic of ______.
Marginal revenue of a firm is constant throughout under:
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 of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
Which among the following is a feature of monopsony market?
A holiday resort in a remote village is very popular among the tourists. Since the connectivity is very poor with the outer world, the owner employs the local villagers for the functioning of the resort.
This is a case of:
Match the following:
| Column I | Column II | ||
| A. | Demand curve under perfect competition | (i) | Indeterminate demand curve |
| B. | Demand curve under monopoly | (ii) | Downward sloping but less elastic |
| C. | Demand curve under monopolistic competition | (iii) | Horizontal straight line |
| D. | Demand curve under oligopoly | (iv) | Elastic demand curve |
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.
Identify the market form for the item given below:
A single seller
Give an example of monopoly.
Which type of market structure is the following? Give reason.
Mobile phone services
Product differentiation is practised in monopolistic competition? Give reasons.
With the help of an example explain the meaning of price discrimination.
Give two examples of a monopolistically competitive market.
Identify the market form from the following.
Firm is a price maker.
Which statement correctly describes monopsony?
