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प्रश्न
What can you say about the number of buyers and sellers under monopolistic competition?
उत्तर
In a monopolistic market, there exists large number of buyers and sellers.
APPEARS IN
संबंधित प्रश्न
State whether the following statement is True or False
Product differentiation is the most distinguishing feature of monopolistic competition.
Explain the implications of the following in an oligopoly market:
Inter- dependence between firms
Explain the implications of the following in a perfectly competitive market :
Large number of sellers
‘A few big sellers’ is a characteristics of : (choose the correct alternative)
a. Perfect competition
b. Monopolistic competition
c. Oligopoly
d. None of the above
Explain the implications of the following : Product differentiation in monopolistic competition.
Explain the implications of the following in an oligopoly market:
Non-price competition
Define or Explain the following concepts
Monopoly
Define monopoly.
State whether the following statement is True or False with reason:
Perfect competition means pure competition.
Answer the following question
What are the features of Perfect Competition?
Answer in detail
What is monopoly? Explain in detail the features of monopoly?
Write short note on the following:
Features of pure competition
Distinguish between the following:
Perfect competition and Monopolistic competition
Define or explain the following concept:
Monopolistic Competition
Give reason or explain:
A monopolist can control the supply of goods.
State whether the following statement is TRUE and FALSE.
There is no price discrimination under Monopolistic competition.
Observe the table and answer the question:
| Price of banana (per dozen) in ₹ | Demand (in dozen) | Supply (in dozen) | Relation between DD and SS |
| 10 | 500 | 100 | DD > SS |
| 20 | 400 | _____ | DD > SS |
| 30 | _____ | 300 | DD = SS |
| 40 | 200 | _____ | DD < SS |
| 50 | ______ | 500 | DD < SS |
Fill in the blanks in the above schedule.
PASSAGE
In India, markets for automobiles, cement, steel, aluminium, etc, are the examples of oligopolistic market. In all these markets, there are few firms for each particular product. Duopoly is a special case of oligopoly, in which there are exactly two sellers. Under duopoly, it is assumed that the product sold by the two firms is homogeneous and there is no substitute for it. Examples where two companies control a large proportion of a market are: (i) Pepsi and Coca-Cola in the soft drink market; (ii) Airbus and Boeing in the commercial large jet aircraft market.
Operating systems for smart phones and computers provide excellent examples of oligopolies in big tech. Apple iOS and Google Android dominate smart phone operating systems. Computer operating systems are overshadowed by Apple and Microsoft Windows.
- Give examples of oligopolistic market in India (1 mark)
- Explain the concept of duopoly with a suitable example from the passage (1 mark)
- Express your personal opinion based on the above information (2 marks)
