Question

Firm in industry is 'price maker'.This is feature of ___________.

• A. perfect competition
• B. monopoly
• C. monopolistic competition
• D. (B) and (C)

Answer 1

The correct option is D (B) and (C)

Monopoly and monopolistic competition are both the markets in which the sellers do price discrimination. They have full control over the prices and this helps them to earn huge profits. Hence, firm in industry is ' price maker " is a feature of monopoly and monopolistic competition.