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Question
State the market form of the following commodity.
Automobiles
Solution
The market form of automobiles is an oligopoly.
RELATED QUESTIONS
Following is not the feature of perfect competition:
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
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 among the following is a feature of monopsony 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.
Match the following:
| Column I | Column II | ||
| A. | Demand curve under perfect competition | (i) | Indeterminate demand curve |
| B. | Demand curve under monopoly | (ii) | Downward sloping but less elastic |
| C. | Demand curve under monopolistic competition | (iii) | Horizontal straight line |
| D. | Demand curve under oligopoly | (iv) | Elastic demand curve |
What is perfect competition?
Identify the market form of the following:
The Government of India is the sole buyer of fighter aircrafts.
Identify the market form of the following:
Goods sold are homogeneous.
Identify the market form for the item given below:
Homogeneous goods
Explain the main characteristics of a monopoly.
Which type of market structure is the following? Give reason.
Jeans
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
Give two examples of monopolistically competitive market.
What induces new firms to enter an industry?
What is the effect on price when a monopoly firm tries to sell more?
Identify the market form from the following.
Price discrimination
Identify the market form from the following:
A few large sellers
Why are selling costs incurred?
