Advertisements
Advertisements
प्रश्न
In which one of the following types of markets are Average Revenue curve and Market Demand curve the same?
विकल्प
Monopoly
Oligopoly
Perfect Competition
Monopolistic Competition
उत्तर
Perfect Competition
Explanation:
In perfect competition, the average revenue curve corresponds with the market demand curve since each firm is a price taker and sells their products at the market price, which is determined by market demand, resulting in a horizontal AR curve at this price.
APPEARS IN
संबंधित प्रश्न
Features of Monopolistic Competition.
The objective of a seller in monopoly market is...............................
(loss \ profit \ negative profit \ zero profit)
Giving reason, state whether the following statement is true or false.
A Monopolist can sell any quantity he likes at a price.
What is price-maker firm?
Which of the characteristics separates it from perfect competition and why?
Explain the 'free entry and exit of firms' feature of monopolistic competition.
What is meant by collusive oligopoly?
Give reason or explain the following.
Price discrimination is possbile under monopoly.
Fill in the blank with proper alternatives given in the bracket:
Under monopoly there is existence of ______________ .
Distinguish between :
Output method and Expenditure method.
Distinguish between the following:
Natural monopoly and legal monopoly
Give reason or explain:
Single price prevails in perfect competition.
Give reason or explain:
Price discrimination is possible under monopoly.
Give reason or explain:
A monopolist can control the supply of goods.
State whether the following statement is TRUE and FALSE.
There is no price discrimination under Monopolistic competition.
State whether the following statement is TRUE and FALSE.
Product differentiation is not possible under perfect competition.
Match the following:
|
Group A
|
Group B
|
|
Monopoly
|
Public monopoly
|
|
Product differentiation
|
Abnormal profit
|
|
Railway
|
Monopolistic Competition
|
|
Perfect Competition
|
Prof. Chamberlin
|
|
Pure Competition
|
Homogenous product
|
|
|
Cartel
|
|
|
Selling cost
|
Answer the following question.
Elaborate three main features of a monopoly form of market.
PASSAGE
In India, markets for automobiles, cement, steel, aluminium, etc, are the examples of oligopolistic market. In all these markets, there are few firms for each particular product. Duopoly is a special case of oligopoly, in which there are exactly two sellers. Under duopoly, it is assumed that the product sold by the two firms is homogeneous and there is no substitute for it. Examples where two companies control a large proportion of a market are: (i) Pepsi and Coca-Cola in the soft drink market; (ii) Airbus and Boeing in the commercial large jet aircraft market.
Operating systems for smart phones and computers provide excellent examples of oligopolies in big tech. Apple iOS and Google Android dominate smart phone operating systems. Computer operating systems are overshadowed by Apple and Microsoft Windows.
- Give examples of oligopolistic market in India (1 mark)
- Explain the concept of duopoly with a suitable example from the passage (1 mark)
- Express your personal opinion based on the above information (2 marks)
