Advertisements
Advertisements
Question
State the market form of the following commodity.
Automobiles
Advertisements
Solution
The market form of automobiles is an oligopoly.
RELATED QUESTIONS
Discuss any two features of a monopolistically competitive market.
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.
“While shopping for fruits in the local market you see many seller selling fruits”. In this context answer the following:
- What is the type of market referred to?
- State and draw the type of demand curve faced by the market above.
- Differentiate between the market indicated above and monopoly on the basis of:
- No. of sellers
- Market price
- Entry and exit of firms in the market
Following is not the feature of perfect competition:
Marginal revenue of a firm is constant throughout under:
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 |
Give an example of oligopoly.
Why is there no need for selling cost under perfect competition?
Identify the market form for the item given below:
A single buyer
Define monopoly.
Discuss any four differences between monopoly and monopolistic competition.
Which type of market structure is the following? Give reason.
Soft drinks
To which market form are homogeneous products relevant?
What is meant by the term ‘price taker’?
In what respects does oligopoly differ from monopoly?
Why do producers incur high selling costs in an imperfect market?
Name the characteristic which makes monopolistic competition different from perfect competition.
Which feature best distinguishes monopolistic competition from perfect competition?
