Market and Price Determination-Monopoly (CBSE Class-12 Economics): Questions 1 - 3 of 3

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Question number: 1

» Market and Price Determination » Monopoly

» Market and Price Determination » Monopolistic Competition

Short Answer Question▾

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State any two features each of monopoly and monopolistic competition.

Question number: 2

» Market and Price Determination » Monopoly

Essay Question▾

Describe in Detail

Explain the features of monopoly market

Explanation

(1) Single seller: - The word monopoly actually translates as “one seller”. A monopolist is the single seller of the product whose substitutes are not available readily and hence it enjoys monopoly over the product and it’s pricing.

(2) Unique product: - A monopoly achieves single-seller status because the good… (73 more words) …

Question number: 3

» Market and Price Determination » Monopoly

Short Answer Question▾

Write in Short

Define monopoly

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