Advertisements
Advertisements
प्रश्न
Giving reason, state whether the following statement is true or false.
A Monopolist can sell any quantity he likes at a price.
उत्तर
False, a monopolist cannot sell any quantity he likes at a price. As there are many rivals and close substitutes of products in the market, the monopolistic firm cannot have full control over the price. A monopolistic firm has partial control over price only through product differentiation. These products cause high elasticity of demand for the firm’s product because of the availability of a large number of close substitutes.
APPEARS IN
संबंधित प्रश्न
What are the features of perfect competition.
Explain the features of monopoly.
Homogenous product’ is a characteristic of : (choose the correct alternative)
(a) Perfect competition only
(b) Perfect oligopoly only
(c) Both (a) and (b)
(d) None of the above
Explain the implications of the following in a perfectly competitive market :
Homogeneous products.
Explain the implications of the following in an oligopoly market: Barriers to entry of new firms
Define or Explain the following concepts
Monopoly
What can you say about the number of buyers and sellers under monopolistic competition?
Answer the following question :
What are the features of monopolistic competition ?
Give reason or explain the following.
Price discrimination is possbile under monopoly.
State whether the following statement is True or False with reason:
Perfect competition means pure competition.
State with reason whether you agree or disagree with the following statement
Perfect Competition means Monopolistic Competition.
State with reason whether you agree or disagree with the following statement
A seller is price maker in monopoly.
Distinguish between the following:
Natural monopoly and legal monopoly
Distinguish between the following:
Natural monopoly and Social monopoly
Give reason or explain:
A monopolist can control the supply of goods.
Fill in the blank with appropriate alternative given below
In ________ market, seller creates products differentiation.
Define 'or' explain the following concept.
Product Differentiation:
Answer the following question.
What is the reason for an indeterminate demand curve under Oligopoly?
In an economic sense, the market includes the following activities
- The place where goods are sold and purchased.
- An arrangement through which buyers and sellers come in close contact with each other directly or indirectly.
- A shop where goods are sold.
- All of the above.
Observe the table and answer the question:
| Price of banana (per dozen) in ₹ | Demand (in dozen) | Supply (in dozen) | Relation between DD and SS |
| 10 | 500 | 100 | DD > SS |
| 20 | 400 | _____ | DD > SS |
| 30 | _____ | 300 | DD = SS |
| 40 | 200 | _____ | DD < SS |
| 50 | ______ | 500 | DD < SS |
Fill in the blanks in the above schedule.
