Advertisements
Advertisements
प्रश्न
Mention the similarities between perfect competition and monopolistic competition.
उत्तर
- In both perfect competition and monopolistic competition number of firms are large.
- Competition exists between the firms.
- There are no barriers to entry and exit in both markets.
- Equilibrium occurs at the point where the MC curve intersects the MR curve.
- In the short run, there is supernormal profit or loss and in long run, there are only normal profits in both market structures.
APPEARS IN
संबंधित प्रश्न
Equilibrium condition of a firm is ______.
There is no excess capacity under ______.
In which type of market, AR, and MR are equal ______.
In monopoly, MR curve lies below ______.
The average revenue curve under monopolistic competition will be ______.
Under perfect competition, the shape of demand curve of a firm is ______.
Draw demand curve of a firm for the following:
Perfect Competition
Specify the nature of entry of competitors in perfect competition and monopoly.
Bring out the features of perfect competition.
How price and output are determined under the perfect competition?
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
