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प्रश्न
Explain the implications of the following in a perfectly competitive market :
Homogeneous products.
In a perfectly competitive market, the buyers treat products of all the firms as homogeneous. Explain the significance of this feature
उत्तर
In a perfectly competitive market, buyers will treat the products of all the firms in the market as homogeneous. There is zero degree of product differentiation and the firm cannot take any control of the price. Here, the firm does not involve in advertisement and sales promotion activities. Hence, uniform price prevails in a perfectly competitive market for homogeneous products.
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संबंधित प्रश्न
What are the features of perfect competition.
There is inverse relation between price and demand for the product of a firm under:
(choose the correct alternative)
(a) Monopoly only
(b) Monopolistic competition only
(c) Both under monopoly and monopolistic competition
(d) Perfect competition only
Differentiated products is a characteristic of: (Choose the correct alternative):
(a) Monopolistic competition only
(b) Oligopoly only
(c) Both monopolistic competition and oligopoly
(d) Monopoly
Explain the implications of the following in an oligopoly market: Barriers to entry of new firms
‘A few big sellers’ is a characteristics of : (choose the correct alternative)
a. Perfect competition
b. Monopolistic competition
c. Oligopoly
d. None of the above
Explain the implications of the following : Product differentiation in monopolistic competition.
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.
Distinguish between Any FOUR of the following :
Consumption expenditure and Investment expenditure.
State with reason whether you agree or disagree with the following statement
Perfect Competition means Monopolistic Competition.
Distinguish between the following:
Natural monopoly and Social monopoly
Define or explain the following concept:
Monopolistic Competition
Give reason or explain:
Selling cost is incurred by a firm in Monopolistic competition.
Fill in the blank with appropriate alternative given below
Under perfect competition commodities are ________________ in nature.
Distinguish between perfect competition and monopolistic competition on the basis of the following:
(a) Number of sellers
(b) Nature of product
(c) Selling cost
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.
