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प्रश्न
What is price-maker firm?
उत्तर
A firm is able to exercise full control over the prevailing market price of the product is known as a price maker firm. In this situation, monopolist fixes the price and attains
maximum level of profit because he is a single seller of the product in the market without any competition.
संबंधित प्रश्न
Explain the implications of the following in an oligopoly market:
Inter- dependence between firms
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 a perfectly competitive market :
Large number of 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
Explain the 'free entry and exit of firms' feature of monopolistic competition.
What is meant by collusive oligopoly?
Answer the following question
What are the features of monopolistic competition?
Write short note on the following:
Features of pure competition
Distinguish between the following:
Perfect competition and Pure competition
Distinguish between the following:
Natural monopoly and legal monopoly
Give reason or explain:
Single price prevails in perfect competition.
Give reason or explain:
A monopolist can control the supply of goods.
Give reason or explain:
Sellers and the buyers are price takers in perfect competition.
Answer the following question.
What is the reason for an indeterminate demand curve under Oligopoly?
Distinguish between perfect competition and monopolistic competition on the basis of the following:
(a) Number of sellers
(b) Nature of product
(c) Selling cost
Find the odd word
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)
In which one of the following types of markets are Average Revenue curve and Market Demand curve the same?
