Advertisements
Advertisements
Question
In which type of market price discrimination is practiced? Explain with an example.
Advertisements
Solution
Price discrimination is practiced in a monopoly market, where a single seller charges different prices to different consumers for the exact same product to maximize profits.
Examples: Railway or Airline ticket pricing
RELATED QUESTIONS
Following is not the feature of perfect competition:
A seller cannot influence the market price under:
"The price of a product under perfect competition is determined by an individual seller."
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 |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker 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
Which type of market structure is the following? Give reason.
Jeans
Which type of market structure is the following? Give reason.
Soft drinks
In what respects does oligopoly differ from monopoly?
