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प्रश्न
Explain the significance of the feature 'product differentiation' in monopolistic competition.
उत्तर
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संबंधित प्रश्न
State whether the following statement is True or False
Product differentiation is the most distinguishing feature of monopolistic competition.
The seller is a price maker in the perfect competition.
Explain the implications of the following in a perfectly competitive market:
Large number of buyers
Explain the implications of the following in a perfectly competitive market :
Homogeneous products.
Explain the implications of the following : Product differentiation in monopolistic competition.
Explain the implications of the following in an oligopoly market:
Non-price competition
Distinguish between perfect oligopoly and imperfect oligopoly. Also, explain the interdependence between the firms' feature of oligopoly.
Answer the following question :
What are the features of monopolistic competition ?
Fill in the blank with proper alternatives given in the bracket:
Under monopoly there is existence of ______________ .
Distinguish between Any FOUR of the following :
Consumption expenditure and Investment expenditure.
Answer the following question
What are the features of monopolistic competition?
Distinguish between the following:
Perfect competition and Pure competition
Give reason or explain:
Price discrimination is possible under monopoly.
Give reason or explain:
Selling cost is incurred by a firm in Monopolistic competition.
Give reason or explain:
Sellers and the buyers are price takers in perfect competition.
State whether the following statement is TRUE and FALSE.
Product differentiation is not possible under perfect competition.
Fill in the blank with appropriate alternative given below
Under perfect competition commodities are ________________ in nature.
Answer the following question.
What is the reason for an indeterminate demand curve under Oligopoly?
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.
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)
