Advertisements
Advertisements
Question
Which type of market structure is the following? Give reason.
Mobile phone services
Advertisements
Solution
The market structure for mobile phone services is oligopoly.
Reason:
- In most countries, a few large corporations dominate the mobile phone service sector, including Verizon, AT&T, Vodafone, and Reliance Jio.
- However, they are also competing with each other, and their pricing and service decisions are interconnected, which is a major feature of an oligopolistic market.
APPEARS IN
RELATED QUESTIONS
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.
Marginal revenue of a firm is constant throughout under:
Indian Oil Corporation Limited is an example of a/an ______.
"The price of a product under perfect competition is determined by an individual seller."
Which of the following statements are true?
- Monopolistically competitive markets have high selling costs.
- Monopolistically competitive markets sell homogeneous goods.
- Any firm can start a business in a monopolistically competitive market.
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 |
Identify the market form of the following:
Motor car market in India.
Discuss any four differences between monopoly and monopolistic competition.
Which type of market structure is the following? Give reason.
Ball-pen
Give two examples of a monopolistically competitive market.
