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प्रश्न
In which form of market is the seller a price taker? Justify your answer.
In which market form the firm is price taker?
"Under which type of a market are producers price takers"?
उत्तर
In a perfectly competitive market, the seller is a price taker.
Justification: In perfect competition, there are many sellers and purchasers in the market, and all firms sell identical (homogeneous) products. Because each firm's output is small in comparison to the entire market supply, no single seller has the ability to influence market price. Because all businesses sell the same commodities, no company can differentiate its product sufficiently to demand a higher price, requiring every seller to be a price taker.
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संबंधित प्रश्न
Which two forms of market earn normal profit in the long run?
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
Match the following and select the correct option:
| Column I | Column II | ||
| (i) | Perfect competition | (A) | Differentiated Products |
| (ii) | Monopoly | (B) | Few large firms |
| (iii) | Monopolistic Competition | (C) | Single seller |
| (iv) | Oligopoly | (D) | Homogeneous products |
Which of the following market types has the fewest number of firms?
Which one of the following is NOT found in a perfectly competition market?
Which of the following is the least competitive market?
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
What is perfect competition?
What is meant by pure competition?
Give three points of difference between perfect competition and monopoly.
To which market is product differentiation relevant?
State the advantage of monopolistic competition over monopoly.
Identify the market form of the following:
The Government of India is the sole buyer of fighter aircrafts.
Identify the market form for the following:
Textile industry in India.
Identify the market form for the following:
Perfectly elastic demand.
State the market form of the following commodity.
Automobiles
Explain any four features of perfect competition.
Which type of market structure is the following? Give reason.
Trucks
Give two examples of monopolistically competitive market.
Why can a monopolist charge different prices in different markets?
