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प्रश्न
Why can a monopolist charge different prices in different markets?
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उत्तर
- Due to the monopolist's power in the market and the absence of competition, they are able to set different pricing in other markets.
- This authority is frequently exercised through price discrimination, in which the monopolist establishes various prices according to variables such as the willingness to pay, the purchasing power, and the elasticity of demand in various markets.
- Because they are the only ones offering a certain commodity or service, monopolists can strategically change their prices to maximise profits across a range of market groups.
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संबंधित प्रश्न
Firm A hires the services of Rohit Sharma to act as the Brand ambassador for its products X. Identify the nature of market for commodity X.
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
Following is not the feature of perfect competition:
'A few big sellers' is a characteristic 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 |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
With the help of an example explain the meaning of price discrimination.
To which market form are homogeneous products relevant?
Which market form has the least number of producers?
In which market form is there a single seller and no close substitutes for the product?
