Advertisements
Advertisements
प्रश्न
Explain the implications of the following in an oligopoly market: Barriers to entry of new firms
उत्तर
In an oligopoly market, there are barriers to the entry of new firms. The patents rights are largely created for these firms and hence entry is restricted to new firms. The existing firms need not face any problem of new firms and they are able to earn-extra normal profit.
APPEARS IN
संबंधित प्रश्न
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
Explain the implications of the following in a perfectly competitive market:
Large number of buyers
Giving reason, state whether the following statement is true or false.
A Monopolist can sell any quantity he likes at a price.
A seller cannot influence the market price under (choose the correct alternative)
a) Perfect competition
b) Monopoly
c) Monopolistic competition
d) All of the above
What is meant by collusive oligopoly?
Answer the following question :
What are the features of monopolistic competition ?
Define or Explain :
Average revenue.
Give reasons or explain the following statements
There is single price in perfect competition.
Answer the following question
What are the features of monopolistic competition?
Distinguish between the following:
Perfect competition and Monopoly
Distinguish between the following:
Natural monopoly and legal monopoly
Give reason or explain:
A monopolist can control the supply of goods.
State whether the following statement is TRUE and FALSE.
Product differentiation is not possible under perfect competition.
Define 'or' explain the following concept.
Product Differentiation:
Distinguish between perfect competition and monopolistic competition on the basis of the following:
(a) Number of sellers
(b) Nature of product
(c) Selling cost
Find the odd word
Selling cost -
PASSAGE
In India, markets for automobiles, cement, steel, aluminium, etc, are the examples of oligopolistic market. In all these markets, there are few firms for each particular product. Duopoly is a special case of oligopoly, in which there are exactly two sellers. Under duopoly, it is assumed that the product sold by the two firms is homogeneous and there is no substitute for it. Examples where two companies control a large proportion of a market are: (i) Pepsi and Coca-Cola in the soft drink market; (ii) Airbus and Boeing in the commercial large jet aircraft market.
Operating systems for smart phones and computers provide excellent examples of oligopolies in big tech. Apple iOS and Google Android dominate smart phone operating systems. Computer operating systems are overshadowed by Apple and Microsoft Windows.
- Give examples of oligopolistic market in India (1 mark)
- Explain the concept of duopoly with a suitable example from the passage (1 mark)
- Express your personal opinion based on the above information (2 marks)
In which one of the following types of markets are Average Revenue curve and Market Demand curve the same?
