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प्रश्न
Explain the implications of the following in a perfectly competitive market :
Large number of sellers
Explain the implications of the following:
Large number of sellers in perfect competition.
There are a large number of sellers in a perfectly competitive market. Explain the significance of this feature
उत्तर १
Large number of sellers in perfect competition:-
There are a large numbers of sellers, but the supply of an individual firm is only a small fraction of the whole market supply. Here, an individual seller cannot influence the market price by varying the sale in the market. Hence, a firm can supply any amount of goods at the given price. They are only price takers but not price makers.
उत्तर २
A perfectly competitive market is a market which consists of buyers and sellers. They produce a homogeneous product. When the number of buyers is more, the demand for an individual buyer is only a small portion of the market demand. Individual buyers cannot influence the market price of a good by varying their demands, and thus, an individual buyer is a price taker and not a price maker
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संबंधित प्रश्न
Homogenous product’ is a characteristic of : (choose the correct alternative)
(a) Perfect competition only
(b) Perfect oligopoly only
(c) Both (a) and (b)
(d) None of the above
What is price-maker firm?
Which of the characteristics separates it from perfect competition and why?
Explain the implications of the following in an oligopoly market:
Non-price competition
Distinguish between perfect oligopoly and imperfect oligopoly. Also, explain the interdependence between the firms' feature of oligopoly.
Price discrimination is possible under monopoly.
In monopolistic completion, goods have no close substitutes.
Define or Explain :
Average revenue.
Answer the following question
What are the features of monopoly?
Distinguish between the following:
Natural monopoly and Social monopoly
Give reason or explain:
Price discrimination is possible under monopoly.
Fill in the blank with appropriate alternative given below
Under perfect competition commodities are ________________ in nature.
Fill in the blank with appropriate alternative given below
In ________ market, seller creates products differentiation.
Answer the following question.
Elaborate three main features of a monopoly form of market.
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.
Find the odd word
Selling cost -
In which one of the following types of markets are Average Revenue curve and Market Demand curve the same?
