Advertisements
Advertisements
प्रश्न
In which form of market is the seller a price taker? Justify your answer.
In which market form the firm is price taker?
"Under which type of a market are producers price takers"?
उत्तर
In a perfectly competitive market, the seller is a price taker.
Justification: In perfect competition, there are many sellers and purchasers in the market, and all firms sell identical (homogeneous) products. Because each firm's output is small in comparison to the entire market supply, no single seller has the ability to influence market price. Because all businesses sell the same commodities, no company can differentiate its product sufficiently to demand a higher price, requiring every seller to be a price taker.
APPEARS IN
संबंधित प्रश्न
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
Non-price competition is ______.
Following is not the feature of perfect competition:
A seller cannot influence the market price under:
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
Read the given statements carefully and select the correct option.
- The number of sellers under oligopoly are small.
- In monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions.
Match the following:
| Column I | Column II | ||
| A. | Monopoly | (i) | Availability of close substitutes |
| B. | Oligopoly | (ii) | Absence of close substitutes |
| C. | Perfect competition | (iii) | Few large sellers |
| D. | Monopolistic competition | (iv) | Homogeneous products |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
What is meant by pure competition?
Give an example of oligopoly.
Give two characteristics of perfect competition.
Identify the market form of the following:
Goods sold are homogeneous.
Identify the market form of the following:
Motor car market in India.
Identify the market form for the following:
Perfectly elastic demand.
Identify the market form for the following:
Telecom industry in India.
State the market form of the following commodity.
Automobiles
Which type of market structure is the following? Give reason.
Mobile phone services
What induces new firms to enter an industry?
Name the market which has characteristics both of monopoly and perfect competition.
