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Question
Identify the market form for the item given below:
A single buyer
Solution
The market form where there is a single buyer is called a monopsony.
RELATED QUESTIONS
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
Non-price competition is ______.
Selling costs are absent in perfect competition market.
Following is not the feature of perfect competition:
'A few big sellers' is a characteristic of ______.
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
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A holiday resort in a remote village is very popular among the tourists. Since the connectivity is very poor with the outer world, the owner employs the local villagers for the functioning of the resort.
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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.
There are no substitute goods in a monopoly market. Give a reason to support your answer.
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Fighter Aircrafts
Explain the main characteristics of a monopoly.
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Trucks
What is the difference between perfect and imperfect oligopoly?
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Perfect knowledge
Mention one feature of a monopoly market.
Why an individual firm under perfect competition cannot influence the market price?
