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प्रश्न
Explain the implications of the following : Product differentiation in monopolistic competition.
उत्तर
Product differentiation in monopolistic competition:-
Monopolistic competition is a form of market in which there are many sellers of the product, but the product of each seller is different from one another. Products are differentiated through designs and colour of the packaging of the product. It attracts consumers to buy the product at a higher price level. As there are many rivals and close substitutes of products in the market, the monopolistic firm cannot have full control over the price. A monopolistic firm has partial control over price only through product differentiation. These products cause high elasticity of demand for the firm’s product because of the availability of a large number of close substitutes. Also, it paves the way to consumer exploitation through a higher price.
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संबंधित प्रश्न
What are the features of perfect competition.
Explain the implications of the following in a perfectly competitive market :
Homogeneous products.
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 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
A seller cannot influence the market price under (choose the correct alternative)
a) Perfect competition
b) Monopoly
c) Monopolistic competition
d) All of the above
Distinguish between perfect oligopoly and imperfect oligopoly. Also, explain the interdependence between the firms' feature of oligopoly.
Define or Explain the following concepts
Monopoly
Give reason or explain the following.
Price discrimination is possbile under monopoly.
Answer the following question
What are the features of Perfect Competition?
State with reason whether you agree or disagree with the following statement
A seller is price maker in monopoly.
Distinguish between the following:
Perfect competition and Monopolistic competition
Define or explain the following concept:
Monopolistic Competition
Give reason or explain:
Price discrimination is possible under monopoly.
State whether the following statement is TRUE and FALSE.
Product differentiation is not possible under perfect competition.
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
_____________ appears in a monopoly market.
Find the odd word
Selling cost -
