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प्रश्न
State two important characteristics of monopoly.
उत्तर
Characteristics of monopoly are as follows:
- There is only a single firm in the market.
- No close substitutes of the product are available in the market.
- Firm is a price maker.
संबंधित प्रश्न
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
"The price of a product under perfect competition is determined by an individual seller."
The seller in a monopoly market is a price maker.
Imperfect knowledge is a characteristic feature of:
To which market is product differentiation relevant?
Identify the market form for the following:
Railways in India.
Identify the market form for the item given below:
Homogeneous goods
Which type of market structure is the following? Give reason.
Trucks
Elaborate the price discrimination feature of monopoly.
Identify the market form from the following.
Firm is a price maker.
