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प्रश्न
A seller cannot influence the market price under (choose the correct alternative)
a) Perfect competition
b) Monopoly
c) Monopolistic competition
d) All of the above
उत्तर
Perfect competition
A seller cannot influence the market price under perfect competition because, in a perfectly competitive market, the buyers will treat the products of all the firms in the market as homogeneous. There is zero degree of product differentiation and the firm cannot take any control of the price. Here, the firm does not involve in advertisement and sales promotion activities. Hence, uniform price prevails in a perfectly competitive market for homogeneous products.
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संबंधित प्रश्न
State whether the following statement is True or False
Product differentiation is the most distinguishing feature 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
Explain the implications of the following in a perfectly competitive market :
Large number of sellers
Explain the implications of the following in an oligopoly market: A few or a few big sellers
Which of the characteristics separates it from perfect competition and why?
Average revenue and Price are always equal under:(choose the correct alternative)
(a) Perfect competition only
b) Monopolistic competition only
(c) Monopoly only
(d) All market forms
In monopolistic completion, goods have no close substitutes.
Explain the significance of the feature 'product differentiation' in monopolistic competition.
What can you say about the number of buyers and sellers under monopolistic competition?
Define or Explain :
Average revenue.
Write short note on the following:
Features of pure competition
State whether the following statement is TRUE and FALSE.
Product differentiation is not possible under perfect competition.
Fill in the blank with appropriate alternative given below
Under perfect competition commodities are ________________ in nature.
Fill in the blank with appropriate alternative given below
Monopolist means __________ competitive.
Answer the following question.
What is the reason for an indeterminate demand curve under Oligopoly?
Features of oligopoly market:
- There are few firms or sellers.
- Sellers sell differentiated product.
- There is free entry and exit of firms.
- There is considerable element of uncertainty in this type of market.
