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प्रश्न
Indian Oil Corporation Limited is an example of a/an ______.
पर्याय
Competitive firm
Monopoly firm
Monopolistically competitive firm
Oligopolistic firm
उत्तर
Indian Oil Corporation Limited is an example of a/an Oligopolistic firm.
Explanation:
Indian Oil Corporation Limited (IOCL) is an example of an oligopolistic company because it works in an oligopolistic market structure. In India's oil and gas business, a few large firms, such as IOCL, Bharat Petroleum, and Hindustan Petroleum, dominate the market, exerting strong control over pricing and output, as is typical of an oligopoly.
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संबंधित प्रश्न
In which type of market price discrimination is practiced? Explain with an example.
Following is not the feature of perfect competition:
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
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 are selling costs?
Identify the market form of the following:
Motor car market in India.
State the market form of the following commodity.
Railways
Define monopoly.
To which market is price discrimination relevant?
In what respects does oligopoly differ from monopoly?
