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प्रश्न
Which type of market structure is the following? Give reason.
Ball-pen
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उत्तर
The market structure for ball pens is monopolistic competition.
Reason:
- Many ball-pen manufacturers, including Parker, Reynolds, Cello, and others, provide identical devices with minor differences in design, ink quality, pricing, and branding.
- Each company tries to differentiate its product to attract customers, and while there are numerous brands, no single firm dominates the market.
- Monopolistic competition is defined by its focus on product differentiation and the presence of many enterprises.
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संबंधित प्रश्न
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 price of a product under perfect competition is determined by an individual seller."
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
Define product differentiation.
Identify the market form of the following:
Motor car market in India.
Identify the market form for the following:
Perfectly elastic demand.
Give an example of monopoly.
Which market form has the least number of producers?
What is the effect on price when a monopoly firm tries to sell more?
Why do producers incur high selling costs in an imperfect market?
