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प्रश्न
Explain any two features of monopoly market.
उत्तर
The following are the two features of a monopoly market.
1. Restricted entry of new firms- The entry into the monopolist market is restricted. In other words, no new firm can enter the monopoly market. There may be various legal barriers such as, patent rights, cartel laws, exclusive rights, etc. to restrict the entry of the new firms.
2. A monopolist is a price maker- Since, a monopolist firm is the single firm in the market, therefore, it enjoys full control over the price and output decisions. The monopolist has the total freedom to fix the price level, which maximises his profit. Therefore, it can be said that a monopoly firm is a price-maker.
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संबंधित प्रश्न
Resource allocation
Meaning and Definition of Market?
Define or explain the following concepts:
Pure competition
Write short notes on Price determination under perfect competition.
Write short answer for the following question :
Features of Pure Competition.
State whether the following statements are ‘True’ or ‘False’.
There is no need of advertisement in monopolistic competition.
Distinguish between Any FOUR of the following :
Natural monopoly and Legal monopoly.
State whether the following statements are True or False with reasons:
There are advertisements of commodities in perfect competition.
State Whether the following statements are TRUE or FALSE:
There is no price discrimination in the monopolistic competition.
Define or explain the following concept:
Market
Answer the following question.
Discuss briefly the meaning of "Price discrimination" and "Product differentiation" with the help of suitable examples.
Explain the concept of market.
Study the following passage and answer the questions:
| A trademark is a recognisable phrase, word, or symbol that denotes a specific product and legally differentiates it from all other products of its kind. Registering a trademark prevents others from using it so that consumers are not confused about the product. Trademarks add value and recognition to a company. Therefore, a company with well-established trademarks and brands in its portfolio enjoy a good reputation in the market. It also makes it easy to raise money from the stock market or borrow from lenders. |
Questions:
- Explain the meaning of trademark in your own words.
- What benefits does the seller/company enjoy by registering its trademark?
