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प्रश्न
What is the effect on price when a perfectly competitive firm tries to sell more?
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उत्तर
It will remain constant because firm does not have any control over price, thus it can sell any quantity at a given price.
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’.
A monopolist is price maker:
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 seller in a monopoly market is a price maker.
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
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 |
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): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
Define perfect competition.
Producers in a monopoly are price makers. Briefly explain.
There are no substitute goods in a monopoly market. Give a reason to support your answer.
Give two characteristics of perfect competition.
Why is there no need for selling cost under perfect competition?
Identify the market form for the following:
Telecom industry in India.
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
Elaborate the price discrimination feature of monopoly.
Identify the market form from the following:
A few large sellers
There are a large number of buyers and sellers under a ______ market.
Why do producers incur high selling costs in an imperfect market?
Which statement correctly describes monopsony?
