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Monopolistic Competition

Identify the ...

Question

Identify the market forms for the items given below:
i. A single seller
ii. Homogeneous goods
iii. Product differentiation
iv. A single buyer

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Solution

i. Monopoly
ii. Perfect competition market
iii. Monopolistic competition
iv. Monopsony market

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Q. Fill in the blanks with appropriate alternatives given in the brackets:

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4. In ________ market, seller creates products differentiation. (competition/ perfect/ pure/ monopolistic competition)

5. Monopolist means __________ competitive. (single seller/ several seller/ single buyer/ several buyer)

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