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प्रश्न
Discuss any two features of a monopolistically competitive market.
Give two characteristics of monopolistic competition.
State two features of monopolistic competition.
Explain three important features of monopolistic competition.
Describe the main features of monopolistic competition.
Explain two important features of monopolistically competitive market.
उत्तर
The following are the features of monopolistic competition:
- Large Number of Buyers and Sellers: A monopolistically competitive industry contains a large number of firms, each of which is relatively small compared to the overall size of the market. This ensures that all firms are relatively competitive. In particular, each firm has hundreds or even thousands of potential competitors.
- Non-Price Competition: Another important feature of monopolistic competition is the non-price competition. All the firms try to capture the market through various methods of competition other than price cutting. These methods may be the guarantee of free repairs, after-sale service, gift scheme with a particular purchase, special discount on a particular purchase, etc.
- Firms produce differentiated products: Products sold by different sellers are closely differentiated from each other. It may be on account of different brand names, packing, shape, the friendly behaviour of the seller or any other consideration.
- Freedom of entry and exit to firms: There is freedom of the firms to enter into the industry or leave the industry.
Notes
Students should refer to the answer according to their questions.
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संबंधित प्रश्न
Non-price competition is ______.
Following is not the feature of perfect competition:
A seller cannot influence the market price under:
Which one of the following is NOT found in a perfectly competition market?
Match the following:
| Column I | Column II | ||
| A. | Demand curve under perfect competition | (i) | Indeterminate demand curve |
| B. | Demand curve under monopoly | (ii) | Downward sloping but less elastic |
| C. | Demand curve under monopolistic competition | (iii) | Horizontal straight line |
| D. | Demand curve under oligopoly | (iv) | Elastic demand curve |
There are no substitute goods in a monopoly market. Give a reason to support your answer.
Give an example of oligopoly.
Why is there no need for selling cost under perfect competition?
Identify the market form of the following:
Market for toilet soaps in India.
Which type of market structure is the following? Give reason.
Lipstick
Which type of market structure is the following? Give reason.
Soft drinks
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
What is the effect on price when a perfectly competitive firm tries to sell more?
What is the difference between collusive and non-collusive oligopoly?
In what respects does oligopoly differ from monopoly?
Mention one feature of a monopoly market.
Why do producers incur high selling costs in an imperfect market?
What is a price making firm?
