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प्रश्न
Giving reason, state whether the following statement is true or false.
A Monopolist can sell any quantity he likes at a price.
उत्तर
False, a monopolist cannot sell any quantity he likes at a price. As there are many rivals and close substitutes of products in the market, the monopolistic firm cannot have full control over the price. A monopolistic firm has partial control over price only through product differentiation. These products cause high elasticity of demand for the firm’s product because of the availability of a large number of close substitutes.
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संबंधित प्रश्न
Explain the implications of the following in an oligopoly market:
Inter- dependence between firms
Explain the implications of the following in a perfectly competitive market :
Large number of sellers
Explain the implications of the following in an oligopoly market: A few or a few big sellers
Explain the implications of the following in a perfectly competitive market:
Freedom of entry and exit to firms
Explain the implications of the following in an oligopoly market:
Non-price competition
Average revenue and Price are always equal under:(choose the correct alternative)
(a) Perfect competition only
b) Monopolistic competition only
(c) Monopoly only
(d) All market forms
Explain the 'free entry and exit of firms' feature of monopolistic competition.
Price discrimination is possible under monopoly.
Define monopoly.
Give reason or explain the following.
Price discrimination is possbile under monopoly.
Distinguish between :
Output method and Expenditure method.
Distinguish between Any FOUR of the following :
Consumption expenditure and Investment expenditure.
Give reasons or explain the following statements
There is single price in perfect competition.
Distinguish between the following:
Perfect competition and Monopoly
Define or explain the following concept:
Monopolistic Competition
Give reason or explain:
Single price prevails in perfect competition.
Fill in the blank with appropriate alternative given below
_____________ appears in a monopoly market.
Find the odd word
Selling cost -
