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प्रश्न
There is inverse relation between price and demand for the product of a firm under:
(choose the correct alternative)
(a) Monopoly only
(b) Monopolistic competition only
(c) Both under monopoly and monopolistic competition
(d) Perfect competition only
उत्तर
The correct option is (c). More units of commodity can be sold only at a lower price is the common feature of monopoly and monopolistic competition. Accordingly, firms demand curve sloped downwards under both markets. Therefore, there is an inverse relationship between price and demand of the product.
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संबंधित प्रश्न
Demand curve of a firm is perfectly elastic under: (Choose the correct alternative)
(a) Perfect competition
(b) Monopoly
(c) Monopolistic competition
(d) Oligopoly
Explain the implications of the following in an oligopoly market: A few or a few big sellers
‘A few big sellers’ is a characteristics of : (choose the correct alternative)
a. Perfect competition
b. Monopolistic competition
c. Oligopoly
d. None of the above
Which of the characteristics separates it from perfect competition and why?
Explain the 'free entry and exit of firms' feature of monopolistic competition.
Answer the following question :
What are the features of monopolistic competition ?
Give reason or explain the following.
Price discrimination is possbile under monopoly.
Define or Explain :
Average revenue.
State whether the following statement is True or False with reason:
Perfect competition means pure competition.
Distinguish between :
Output method and Expenditure method.
State with reason whether you agree or disagree with the following statement
Perfect Competition means Monopolistic Competition.
State with reason whether you agree or disagree with the following statement
A seller is price maker in monopoly.
Write short note on the following:
Features of pure competition
Distinguish between the following:
Perfect competition and Pure competition
Distinguish between the following:
Perfect competition and Monopoly
Give reason or explain:
Selling cost is incurred by a firm in Monopolistic competition.
Fill in the blank with appropriate alternative given below
_____________ appears in a monopoly market.
Distinguish between perfect competition and monopolistic competition on the basis of the following:
(a) Number of sellers
(b) Nature of product
(c) Selling cost
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)
