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Question
State the market form of the following commodity.
Railways
Solution
The market form of railways is a monopoly.
RELATED QUESTIONS
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
Following is not the feature of perfect competition:
Marginal revenue of a firm is constant throughout under:
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 |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
What is meant by oligopoly?
What is monopsony?
What is meant by product differentiation?
Highlight the importance of selling costs in a monopolistically compatible market.
State the market form of the following commodity.
Shampoos
In which form of market do producers and consumers have perfect knowledge about the market conditions?
To which market is price discrimination relevant?
To which market form are homogeneous products relevant?
Which market form has the least number of producers?
What induces new firms to enter an industry?
Name the market which has characteristics both of monopoly and perfect competition.
Identify the market form from the following.
Price discrimination
There is inverse relation between price and demand for the product of a firm under ______.
Why an individual firm under perfect competition cannot influence the market price?
