Advertisements
Advertisements
Question
Give an example of monopsony.
Advertisements
Solution
An example of monopsony:
Tata Motors may be a single buyer of some truck components from several firms set up exclusively to supply these components to Tata Motors.
RELATED QUESTIONS
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 |
Observe the relationship of the first pair of words and complete the second pair.
Single seller in the market : Monopoly
Single buyer in the market : ______
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
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.
Why is there no need for selling cost under perfect competition?
Identify the market form for the following:
Textile industry in India.
Identify the market form for the item given below:
A single buyer
What is the effect on price when a monopoly firm tries to sell more?
In what respects does oligopoly differ from monopoly?
