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प्रश्न
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
उत्तर
Monopolistically competition market is a blend of both perfectly competition and monopoly market.
Features of Perfectly Competitive Market:
- Large number of firms.
- No barriers to entry or exit.
Features of Monopoly Market:
- Product differentiation refers to how each company creates a product that differs slightly from that of rivals.
- Close substitutes but no perfect substitutes.
संबंधित प्रश्न
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
There is no difference between perfect competition and pure competition.
Match the following:
| Column I | Column II | ||
| A. | Demand curve under perfect competition | (i) | Indeterminate demand curve |
| B. | Demand curve under monopoly | (ii) | Downward sloping but less elastic |
| C. | Demand curve under monopolistic competition | (iii) | Horizontal straight line |
| D. | Demand curve under oligopoly | (iv) | Elastic demand curve |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
What is meant by pure competition?
Give three points of difference between perfect competition and monopoly.
Give an example of monopsony.
Give two characteristics of perfect competition.
In which form of market is the seller a price taker? Justify your answer.
State the market form of the following commodity.
Railways
State the market form of the following commodity.
Fighter Aircrafts
Name the market in which there is a single buyer and many sellers.
Give an example of monopoly.
Explain any four features of perfect competition.
Which type of market structure is the following? Give reason.
Mobile phone services
Which type of market structure is the following? Give reason.
Ball-pen
To which market is price discrimination relevant?
Why can a monopolist charge different prices in different markets?
