NCERT_CLASS_12_ECONOMICS_MICROECONOMICS

1. Take a look at the following remark on the Monopoly Market.

1. In a monopolistic market, there are no barriers to entry for new
   players or participants.
2. Monopolistic players have the ability to set and plan goods prices.
3. The company aims to maximize profit while also producing and securing
   revenue.

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2. Take a look at the following statement on the Oligopoly Market.

1. A market situation in which a high number of sellers compete in the same space.
   A small handful of significant firms dominate the industry.
2. The greatest illustration of an oligopoly market is Google (web search).
3. The industry is difficult to break into due to economies of scale, hence
   entry barriers are high..

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3. Consider the following scenario, which shows how oligopolistic
enterprises might operate in a variety of ways.

1. Collaborate and come up with a formal contract or written
   document that outlines their policies.
2. collaborate while maintaining an unsaid (informal)
   understanding.
3. They don't collaborate..

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4.

Which of the following is not a characteristic of monopolistic competition?

5. Except for:——————–, all of the following are monopolistic characteristics.

6. Oligopolistic industries have the following characteristics:

7. Perfect competition varies from monopolistic competition in
the following ways:

8. A firm has a lot of control over the pricing of its goods in
which sort of market system?

9. Under which of the following market models does a corporation
have no control over the price of its product?

10. Only if demand elasticity in different submarkets is as
follows can price discrimination be successful:

11. The term "monopolist" refers to a monetary value:

12. Price discrimination is one of the market's characteristics.

13. The products————– form a pure oligopoly.

14. In————-, the firm and the industry are one and the same.