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प्रश्न
Differentiated products is a characteristic of ______.
विकल्प
Monopolistic competition only
Imperfect oligopoly only
Both monopolistic competition and imperfect oligopoly only
Monopoly
उत्तर
Differentiated products is a characteristic of monopolistic competition and imperfect oligopoly only.
Explanation:
Differentiated products are seen in both monopolistic competition and imperfect oligopoly. Monopolistic competition occurs when firms sell similar but not identical items, allowing for product differentiation. In an imperfect oligopoly, firms distinguish their products in order to compete with one another, whereas, in a pure oligopoly, products are uniform.
संबंधित प्रश्न
Discuss any two features of a monopolistically competitive market.
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’.
Selling costs are absent in perfect competition market.
'Homogeneous products' is a characteristic of ______.
A monopolist is price maker:
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
Observe the relationship of the first pair of words and complete the second pair.
Single seller in the market : Monopoly
Single buyer in the market : ______
Which among the following is a feature of monopsony market?
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.
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
What is meant by oligopoly?
Give two characteristics of perfect competition.
State the advantage of monopolistic competition over monopoly.
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Which type of market structure is the following? Give reason.
Jeans
Product differentiation is practised in monopolistic competition? Give reasons.
What is the difference between perfect and imperfect oligopoly?
There are a large number of buyers and sellers under a ______ market.
