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Question
Which market form has the least number of producers?
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Solution
Monopoly
RELATED QUESTIONS
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
“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
Which of the following market types has the fewest number of firms?
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 |
Mention two features of monopoly.
Define product differentiation.
To which market is product differentiation relevant?
Why is there no need for selling cost under perfect competition?
In which form of market is the seller a price taker? Justify your answer.
State the market form of the following commodity.
Fighter Aircrafts
Discuss any four differences between monopoly and monopolistic competition.
To which market form are homogeneous products relevant?
What is meant by the term ‘price taker’?
What is the difference between perfect and imperfect oligopoly?
In what respects does oligopoly differ from monopoly?
Identify the market form from the following:
A few large sellers
Which of the following is an example of a perfectly competitive market?
In which market form is there a single seller and no close substitutes for the product?
