Advertisements
Advertisements
प्रश्न
Distinguish between perfect oligopoly and imperfect oligopoly. Also, explain the interdependence between the firms' feature of oligopoly.
उत्तर
| Perfect oligopoly | Imperfect oligopoly |
| If the firms produce the homogeneous the product then it is called perfect oligopoly. |
If the firm produces differentiated products then it is called imperfect oligopoly. |
| It is rare to find this type of situation. Examples: cement, steel, aluminium and chemical producing industries |
Examples: Passenger cars, cigarettes and soft drinks. |
Feature 'interdependence of firms' in an oligopoly market: In a market, the price and level of the output of one firm impact the price and level of the output of rival firms. Keeping this impact in mind, a firm decides the price and output in accordance with prevailing market conditions. Hence, a high degree of interdependence exists among competing firms, especially with regard to price and quantity of output.
APPEARS IN
संबंधित प्रश्न
Features of Monopolistic Competition.
The objective of a seller in monopoly market is...............................
(loss \ profit \ negative profit \ zero profit)
Explain the features of monopoly.
What is price-maker firm?
Explain the implications of the following in an oligopoly market:
Non-price competition
Average revenue and Price are always equal under:(choose the correct alternative)
(a) Perfect competition only
b) Monopolistic competition only
(c) Monopoly only
(d) All market forms
What is meant by collusive oligopoly?
Price discrimination is possible under monopoly.
Define or Explain the following concepts
Monopoly
Define monopoly.
What can you say about the number of buyers and sellers under monopolistic competition?
Give reason or explain the following.
Price discrimination is possbile under monopoly.
State with reasons, whether you Agree or Disagree with the following statements.
Perfect competition is an imaginary concept.
Answer the following question
What are the features of monopolistic competition?
State with reason whether you agree or disagree with the following statement
Perfect Competition means Monopolistic Competition.
Answer in detail
What is Perfect Competition? Explain price determination under Perfect Competition.
Define or explain the following concept:
Monopolistic Competition
Distinguish between perfect competition and monopolistic competition on the basis of the following:
(a) Number of sellers
(b) Nature of product
(c) Selling cost
PASSAGE
In India, markets for automobiles, cement, steel, aluminium, etc, are the examples of oligopolistic market. In all these markets, there are few firms for each particular product. Duopoly is a special case of oligopoly, in which there are exactly two sellers. Under duopoly, it is assumed that the product sold by the two firms is homogeneous and there is no substitute for it. Examples where two companies control a large proportion of a market are: (i) Pepsi and Coca-Cola in the soft drink market; (ii) Airbus and Boeing in the commercial large jet aircraft market.
Operating systems for smart phones and computers provide excellent examples of oligopolies in big tech. Apple iOS and Google Android dominate smart phone operating systems. Computer operating systems are overshadowed by Apple and Microsoft Windows.
- Give examples of oligopolistic market in India (1 mark)
- Explain the concept of duopoly with a suitable example from the passage (1 mark)
- Express your personal opinion based on the above information (2 marks)
