Market and Price Determination-Monopolistic Competition (CBSE (Central Board of Secondary Education- Board Exam) Class-12 Economics): Questions 1 - 7 of 7

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Question number: 1

» Market and Price Determination » Monopolistic Competition

Short Answer Question▾

Write in Short

Explain the implication of the feature ‘product differentiation’ under Monopolistic Competition.

Question number: 2

» Market and Price Determination » Monopolistic Competition

Short Answer Question▾

Write in Short

Explain the implication of ‘product differentiation’ feature of monopolistic competition.

Question number: 3

» Market and Price Determination » Monopoly

» Market and Price Determination » Monopolistic Competition

Short Answer Question▾

Write in Short

State any two features each of monopoly and monopolistic competition.

Question number: 4

» Market and Price Determination » Monopolistic Competition

Essay Question▾

Describe in Detail

State three features of monopolistic competition.

Explanation

Features are given below: -

(1) Large Number of Sellers: - Large number of companies selling related goods but these are not homogeneous products. Each company is independent and it has limited share of market. Large number of company conduct to competition in market

(2) Selling Cost: - In monopolistic… (79 more words) …

Question number: 5

» Market and Price Determination » Monopolistic Competition

Appeared in Year: 2010

Short Answer Question▾

Write in Short

Name the characteristic which makes monopolistic competition different from perfect competition.

Question number: 6

» Market and Price Determination » Monopolistic Competition

Essay Question▾

Describe in Detail

Explain the implications of the following:

(i) The feature ‘differentiated product’ under monopolistic competition.

(ii) The feature ‘large number of sellers’ under perfect competition.

Explanation

(i) The feature ‘differentiated product’ under monopolistic competition.

some generation in position to perform some degree of monopoly with product differeentiation.

In Production differentiation differentiating the products on brand, color, size. The product of firm is close and it is not perfect subtitute of other firm.

This implication is buyers… (76 more words) …

Question number: 7

» Market and Price Determination » Monopolistic Competition

Essay Question▾

Describe in Detail

Explain two points of distinction between monopoly and monopolistic competition.

Explanation

Characteristics

Monopoly competition

monopolistic competition

Number of Buyers and sellers

In this only single sellers and large number of buyers in demand.

In this large number of sellers and buyers both.

Nature of products

It is the main producer of the commodity in the market so it has no close… (14 more words) …

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