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Question
Identify the market form for the item given below:
A single seller
Solution
The market form where there is a single seller is called a monopoly.
RELATED QUESTIONS
Discuss any two features of a monopolistically competitive market.
Indian Railways is an example of ______.
Observe the relationship of the first pair of words and complete the second pair.
Single seller in the market : Monopoly
Single buyer in the market : ______
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
Which of the following statements are true?
- Monopolistically competitive markets have high selling costs.
- Monopolistically competitive markets sell homogeneous goods.
- Any firm can start a business in a monopolistically competitive market.
Imperfect knowledge is a characteristic feature of:
Which of the following market types has the fewest number of firms?
Identify the market form for seller A on the basis of the following information:
| Units of output sold | Price offered by seller A in ₹ |
| 30 | 10 |
| 40 | 10 |
| 50 | 10 |
Match the following:
| Column I | Column II | ||
| A. | Monopoly | (i) | Availability of close substitutes |
| B. | Oligopoly | (ii) | Absence of close substitutes |
| C. | Perfect competition | (iii) | Few large sellers |
| D. | Monopolistic competition | (iv) | Homogeneous products |
Mention two features of monopoly.
What is meant by product differentiation?
Identify the market form of the following:
Goods sold are homogeneous.
Identify the market form for the following:
Railways in India.
Explain the main characteristics of a monopoly.
Which type of market structure is the following? Give reason.
Trucks
To which market is price discrimination relevant?
Give two examples of monopolistically competitive market.
What does perfectly elastic demand curve faced by a competitive firm indicate?
Name the characteristic which makes monopolistic competition different from perfect competition.
