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Question
What induces new firms to enter an industry?
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Solution
Abnormal profit
RELATED QUESTIONS
Define Discriminating Monopoly.
Which two forms of market earn normal profit in the long run?
Following is not the feature of perfect competition:
Differentiated products is a characteristic of ______.
A seller cannot influence the market price under:
Match the following and select the correct option:
| Column I | Column II | ||
| (i) | Perfect competition | (A) | Differentiated Products |
| (ii) | Monopoly | (B) | Few large firms |
| (iii) | Monopolistic Competition | (C) | Single seller |
| (iv) | Oligopoly | (D) | Homogeneous products |
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 |
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
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.
Give two characteristics of perfect competition.
Identify the market form for the item given below:
A single seller
Give an example of monopoly.
Discuss any four differences between monopoly and monopolistic competition.
Which type of market structure is the following? Give reason.
Ball-pen
With the help of an example explain the meaning of price discrimination.
What is a price making firm?
