Advertisements
Advertisements
Question
Which of the following market types has the fewest number of firms?
Options
Perfect Competition
Monopoly
Monopolistic competition
Monopsony
Advertisements
Solution
Monopoly
Explanation:
A monopolistic market has the fewest number of enterprises since only one firm controls the whole market. This firm is the only manufacturer or provider of a product or service, as opposed to other market categories that have several enterprises.
APPEARS IN
RELATED QUESTIONS
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
A monopolist is price maker:
The seller in a monopoly market is a price maker.
What are selling costs?
Identify the market form of the following:
Motor car market in India.
Identify the market form for the following:
Railways in India.
Explain the main characteristics of a monopoly.
What does perfectly elastic demand curve faced by a competitive firm indicate?
There is inverse relation between price and demand for the product of a firm under ______.
Name the characteristic which makes monopolistic competition different from perfect competition.
