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प्रश्न
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
उत्तर
Perfect competition
A seller cannot influence the market price under perfect competition because, in a perfectly competitive market, the buyers will treat the products of all the firms in the market as homogeneous. There is zero degree of product differentiation and the firm cannot take any control of the price. Here, the firm does not involve in advertisement and sales promotion activities. Hence, uniform price prevails in a perfectly competitive market for homogeneous products.
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संबंधित प्रश्न
State whether the following statement is True or False
Product differentiation is the most distinguishing feature of monopolistic competition.
Giving reason, state whether the following statement is true or false.
A Monopolist can sell any quantity he likes at a price.
Differentiated products is a characteristic of: (Choose the correct alternative):
(a) Monopolistic competition only
(b) Oligopoly only
(c) Both monopolistic competition and oligopoly
(d) Monopoly
Explain the implications of the following in a perfectly competitive market :
Large number of sellers
Explain the implications of the following in a perfectly competitive market :
Homogeneous products.
Explain the implications of the following in an oligopoly market: A few or a few big sellers
Distinguish between perfect oligopoly and imperfect oligopoly. Also, explain the interdependence between the firms' feature of oligopoly.
Price discrimination is possible under monopoly.
Explain the significance of the feature 'product differentiation' in monopolistic competition.
Define or Explain :
Average revenue.
Give reasons or explain the following statements
There is single price in perfect competition.
Answer the following question
What are the features of Perfect Competition?
Answer the following question
What are the features of monopoly?
State with reason whether you agree or disagree with the following statement
A seller is price maker in monopoly.
Define or explain the following concept:
Selling cost
Give reason or explain:
Single price prevails in perfect competition.
Give reason or explain:
Selling cost is incurred by a firm in Monopolistic competition.
Fill in the blank with appropriate alternative given below
In ________ market, seller creates products differentiation.
