Advertisements
Advertisements
Question
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 |
Options
A. (iii), B. (ii), C. (iv), D. (i)
A. (ii), B. (iii), C. (i), D. (iv)
A. (iii), B. (i), C. (ii), D. (iv)
A. (iv), B. (ii), C. (i), D. (iii)
Advertisements
Solution
A. (iii), B. (ii), C. (iv), D. (i)
Explanation:
| Column I | Column II | ||
| A. | Demand curve under perfect competition | (iii) | Horizontal straight line |
| B. | Demand curve under monopoly | (ii) | Downward sloping but less elastic |
| C. | Demand curve under monopolistic competition | (iv) | Elastic demand curve |
| D. | Demand curve under oligopoly | (i) | Indeterminate demand curve |
APPEARS IN
RELATED QUESTIONS
Which two forms of market earn normal profit in the long run?
The image above shows a departmental store of a market structure.
- Identify the form of market as observed from the above image.
- Discuss the features of this market form with respect to:
- Type of product
- Entry and exit of firms
- Selling cost
Marginal revenue of a firm is constant throughout under:
Read the given statements carefully and select the correct option.
- The number of sellers under oligopoly are small.
- In monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions.
Identify the market form for seller A on the basis of the following information:
| Units of output sold | Price offered by seller A in ₹ |
| 30 | 10 |
| 40 | 10 |
| 50 | 10 |
Define monopsony.
Give an example of monopoly.
What is the effect on price when a monopoly firm tries to sell more?
In what respects does oligopoly differ from monopoly?
Identify the market form from the following.
Price discrimination
