Advertisements
Advertisements
प्रश्न
Which of the following statements are true?
- Monopolistically competitive markets have high selling costs.
- Monopolistically competitive markets sell homogeneous goods.
- Any firm can start a business in a monopolistically competitive market.
पर्याय
only (i)
Only (i) and (ii)
Only (i) and (iii)
All of these
MCQ
Advertisements
उत्तर
Only (i) and (iii)
Explanation:
- Statement (i): Goods are substantially distinctive (by branding, quality, or design); enterprises must spend heavily on advertising and promotions (selling expenses) to draw consumers away from rivals.
- Statement (iii): There is freedom of entry and exit in this market system, meaning any new firm can start a business without experiencing severe economic or legal barriers.
shaalaa.com
या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
APPEARS IN
संबंधित प्रश्न
How is Perfect competitive market is different from a monopoly market?
A seller cannot influence the market price under:
Indian Railways is an example of ______.
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 |
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
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 |
Define monopsony.
Which type of market structure is the following? Give reason.
Trucks
Which type of market structure is the following? Give reason.
Jeans
Why an individual firm under perfect competition cannot influence the market price?
