Define monopoly....

Define monopoly.

Text Solution

Verified by Experts

Monopoly refers to a market situation where there is a single seller selling a product which has no close substitutes.

Promotional Banner

Promotional Banner

Topper's Solved these Questions

MAIN MARKET FORMS
SANDEEP GARG|Exercise NCERT QUESTIONS|4 Videos
INTRODUCTION
SANDEEP GARG|Exercise UNSOLVED PRACTICALS|6 Videos
PRICE DETERMINATION AND SIMPLE APPLICATIONS
SANDEEP GARG|Exercise Long Answer Type Questions|28 Videos

SANDEEP GARG-MAIN MARKET FORMS-Very short

Define market to good.
Text Solution
|
Define perfect cometition
Text Solution
|
What do you mean by homogenous product?
Text Solution
|
What is the shape of demand curve under the perfect competition?
Text Solution
|
In which market form, are average and marginal revenue of a firm alway...
Text Solution
|
What induces new firms to enter an industry?
Text Solution
|
Give the meaning of 'Oligopoly' If the firms are earning abnormla prof...
Text Solution
|
In which market form are goods sold at a uniform price?
Text Solution
|
In which market form are goods sold at a uniform price? OR In whic...
Text Solution
|
When is a firm called price take?
Text Solution
|
Why are seller costs not incurred in perfect competition?
Text Solution
|
Define monopoly.
Text Solution
|
What is a price make firm?
Text Solution
|
In which form of market form, there is product differentiation?
Text Solution
|
Under which market form, firm is a price maker
Text Solution
|
What is meant by " price discrimination"?
Text Solution
|
What are the shapes of AR and MR curves under monopoly?
Text Solution
|