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प्रश्न
Mention one feature of a monopoly market.
उत्तर
- Single seller and large number of buyers:
- Under monopoly, there is only one seller, firm or manufacturer of a commodity. The product sold by the monopolist may or may not be homogenous. The existence of a single seller of one product eliminates the difference between the firm and the industry.
- There can be any number of buyers under monopoly.
- No Close Substitutes: A second feature of monopoly is that there are no close substitutes available for the product sold by the monopolist. A pure monopoly exists only when there is no close substitute for the product sold by the monopolist.
संबंधित प्रश्न
A seller cannot influence the market price under:
Which of the following statements are true?
- Monopolistically competitive markets have high selling costs.
- Monopolistically competitive markets sell homogeneous goods.
- Any firm can start a business in a monopolistically competitive 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.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
What is meant by pure competition?
What is meant by oligopoly?
State the market form of the following commodity.
Fighter Aircrafts
Identify the market form for the item given below:
A single buyer
Name the market in which there is a single buyer and many sellers.
Explain any four features of perfect competition.
Discuss any four differences between monopoly and monopolistic competition.
Which type of market structure is the following? Give reason.
Ball-pen
Product differentiation is practised in monopolistic competition? Give reasons.
Why can a monopolist charge different prices in different markets?
Name the market which has characteristics both of monopoly and perfect competition.
Why do producers incur high selling costs in an imperfect market?
What is a price making firm?
