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प्रश्न
Which of the characteristics separates it from perfect competition and why?
उत्तर
Product differentiation in monopolistic competition separates it from perfect competition because the products are homogeneous. They are identical in all respects such as size, shape and quality in perfect competition. Selling cost is heavy in the case of monopolistic completion whereas the selling is not incurred as they have perfect knowledge of product in perfect competition.
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संबंधित प्रश्न
Features of Monopolistic Competition.
Explain the implications of the following in a perfectly competitive market:
Large number of buyers
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 :
Homogeneous products.
‘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 implications of the following in an oligopoly market:
Non-price competition
Distinguish between perfect oligopoly and imperfect oligopoly. Also, explain the interdependence between the firms' feature of oligopoly.
In monopolistic completion, goods have no close substitutes.
Give reason or explain the following.
Price discrimination is possbile under monopoly.
Give reasons or explain the following statements
There is single price in perfect competition.
State with reason whether you agree or disagree with the following statement
Perfect Competition means Monopolistic Competition.
Write short note on the following:
Features of pure competition
Distinguish between the following:
Perfect competition and Monopolistic competition
Give reason or explain:
Price discrimination is possible under monopoly.
Give reason or explain:
Sellers and the buyers are price takers in perfect competition.
Match the following:
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Group A
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Group B
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Monopoly
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Public monopoly
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Product differentiation
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Abnormal profit
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Railway
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Monopolistic Competition
|
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Perfect Competition
|
Prof. Chamberlin
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Pure Competition
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Homogenous product
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|
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Cartel
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|
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Selling cost
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Fill in the blank with appropriate alternative given below
Under perfect competition commodities are ________________ in nature.
Define 'or' explain the following concept.
Product Differentiation:
