Advertisements
Advertisements
प्रश्न
Explain the 'free entry and exit of firms' feature of monopolistic competition.
उत्तर
Free entry and exit of firms under monopolistic competition, firms are free to enter in or exit from the industry at any time according to their wish. This implies that there are neither abnormal profits nor any abnormal losses to a firm in the long run. But entry under monopolistic competition is not so easy and free as the situation prevails under perfect competition.
APPEARS IN
संबंधित प्रश्न
State whether the following statement is True or False
Product differentiation is the most distinguishing feature of monopolistic competition.
What are the features of perfect competition.
Explain the features of monopoly.
Explain the implications of the following in a perfectly competitive market :
Homogeneous products.
Which of the characteristics separates it from perfect competition and why?
Explain the implications of the following in an oligopoly market:
Non-price competition
Define or Explain the following concepts
Monopoly
Define monopoly.
Answer the following question
What are the features of Perfect Competition?
Distinguish between the following:
Perfect competition and Monopolistic competition
State whether the following statement is TRUE and FALSE.
Product differentiation is not possible under perfect competition.
Match the following:
|
Group A
|
Group B
|
|
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.
What is the reason for an indeterminate demand curve under Oligopoly?
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.
Find the odd word
Selling cost -
