Advertisements
Advertisements
Questions
In what respects does oligopoly differ from monopoly?
State any two differences between oligopoly and monopoly market.
Advertisements
Solution
| Sr. No. | Basis | Oligopoly | Monopoly |
| 1. | No. of sellers: | There are few large sellers producing a commodity. | There is only a single seller in the market. |
| 2. | Entry of new firms: | Entry of new firms is difficult. | Entry of new firms is restricted. |
| 3. | Demand curve: | The demand curve is indeterminate. | The demand curve faced by a monopoly firm is less elastic. |
| 4. | Product Differentiation: | Products may be identical (e.g., cement) or differentiated (e.g., cars). | The product has no close substitutes. |
APPEARS IN
RELATED QUESTIONS
Discuss any two features of a monopolistically competitive market.
Define Discriminating Monopoly.
Non-price competition is ______.
Explain three features of Perfect competitive market.
Following is the feature of perfect competition:
Marginal revenue of a firm is constant throughout under:
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
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.
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
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.
Define oligopoly.
Give an example of monopsony.
State two important characteristics of monopoly.
To which market is product differentiation relevant?
What are selling costs?
Why is there no need for selling cost under perfect competition?
Highlight the importance of selling costs in a monopolistically compatible market.
Identify the market form of the following:
Motor car market in India.
Identify the market form for the following:
Textile industry in India.
Identify the market form for the following:
Telecom industry in India.
Name the market in which there is a single buyer and many sellers. Give an example.
Give an example of monopoly.
Give an example of price discrimination.
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
Which market form has the least number of producers?
What induces new firms to enter an industry?
What is the difference between perfect and imperfect oligopoly?
What does perfectly elastic demand curve faced by a competitive firm indicate?
Elaborate the price discrimination feature of monopoly.
Identify the market form from the following.
Firm is a price maker.
Identify the market form from the following:
A few large sellers
There are a large number of buyers and sellers under a ______ market.
Why are selling costs incurred?
Which feature best distinguishes monopolistic competition from perfect competition?
In which type of market are firms interdependent and a few large firms dominate?
