Advertisements
Advertisements
प्रश्न
A monopolist is price maker:
विकल्प
True
False
उत्तर
This statement is True.
Explanation:
A monopolist is a price maker because, as the only seller in the market, the monopolist has the authority to establish the price of the commodity. Because there are no competitors, the monopolist can control the price by altering the supply of the commodity.
APPEARS IN
संबंधित प्रश्न
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.
“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
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
Mention two features of monopoly.
State two important characteristics of monopoly.
Define monopoly.
With the help of an example explain the meaning of price discrimination.
What is the effect on price when a perfectly competitive firm tries to sell more?
Name the market which has characteristics both of monopoly and perfect competition.
What is a price making firm?
