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प्रश्न
Answer the following question.
What is the reason for an indeterminate demand curve under Oligopoly?
उत्तर
The main reasons for the indeterminate price and output under oligopoly may be summarised as follows:
- Different Behaviour patterns: In an oligopoly due to interdependence, a vast variety of behavior patterns becomes possible.
- Indeterminate Demand Curve: Another cause of indeterminateness of price and output in an oligopoly is the indeterminate demand curve.
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संबंधित प्रश्न
The seller is a price maker in the perfect competition.
Explain the features of monopoly.
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
Giving reason, state whether the following statement is true or false.
A Monopolist can sell any quantity he likes at a price.
Distinguish between perfect oligopoly and imperfect oligopoly. Also, explain the interdependence between the firms' feature of oligopoly.
State with reasons, whether you Agree or Disagree with the following statements.
Perfect competition is an imaginary concept.
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.
Answer in detail
What is Perfect Competition? Explain price determination under Perfect Competition.
Distinguish between the following:
Natural monopoly and legal monopoly
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:
|
Group A
|
Group B
|
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Monopoly
|
Public monopoly
|
|
Product differentiation
|
Abnormal profit
|
|
Railway
|
Monopolistic Competition
|
|
Perfect Competition
|
Prof. Chamberlin
|
|
Pure Competition
|
Homogenous product
|
|
|
Cartel
|
|
|
Selling cost
|
Answer the following question.
Elaborate three main features of a monopoly form of 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
In an economic sense, the market includes the following activities
- The place where goods are sold and purchased.
- An arrangement through which buyers and sellers come in close contact with each other directly or indirectly.
- A shop where goods are sold.
- All of the above.
Observe the table and answer the question:
| Price of banana (per dozen) in ₹ | Demand (in dozen) | Supply (in dozen) | Relation between DD and SS |
| 10 | 500 | 100 | DD > SS |
| 20 | 400 | _____ | DD > SS |
| 30 | _____ | 300 | DD = SS |
| 40 | 200 | _____ | DD < SS |
| 50 | ______ | 500 | DD < SS |
Fill in the blanks in the above schedule.
Features of oligopoly market:
- There are few firms or sellers.
- Sellers sell differentiated product.
- There is free entry and exit of firms.
- There is considerable element of uncertainty in this type of market.
