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प्रश्न
Homogenous product’ is a characteristic of : (choose the correct alternative)
(a) Perfect competition only
(b) Perfect oligopoly only
(c) Both (a) and (b)
(d) None of the above
उत्तर
The correct option is (c). All firms in a perfectly competitive market and perfect oligopoly market sell identical units of a product. Hence, the characteristic of a homogeneous product prevails under both the forms of market.
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संबंधित प्रश्न
Features of Monopolistic 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
Differentiated products is a characteristic of: (Choose the correct alternative):
(a) Monopolistic competition only
(b) Oligopoly only
(c) Both monopolistic competition and oligopoly
(d) Monopoly
‘A few big sellers’ is a characteristics of : (choose the correct alternative)
a. Perfect competition
b. Monopolistic competition
c. Oligopoly
d. None of the above
What is price-maker firm?
Explain the implications of the following in a perfectly competitive market:
Freedom of entry and exit to firms
Price discrimination is possible under monopoly.
Define or Explain the following concepts
Monopoly
What can you say about the number of buyers and sellers under monopolistic competition?
Distinguish between Any FOUR of the following :
Consumption expenditure and Investment expenditure.
Answer the following question
What are the features of Perfect Competition?
Distinguish between the following:
Perfect competition and Monopoly
Distinguish between the following:
Natural monopoly and legal monopoly
Define or explain the following concept:
Selling cost
Give reason or explain:
Single price prevails in perfect competition.
Give reason or explain:
Price discrimination is possible under monopoly.
State whether the following statement is TRUE and FALSE.
Product differentiation is not possible under perfect competition.
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.
