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Answer no.

1 ---- yes, this is an example of monopolistic


competition because there are many sellers of car but there is slight
product differentiation as he manufactures car of best quality and of
better style. Also there is large price elasticity of demand of the car .and
by all this he has also some control over the price because in
monopolistic competition there are many sellers offering differentiated
products to many buyers.

Answer no. 2---- I specify news paper industry for perfect competition
in Indian scenario because there are many sellers of newspapers such
as dainik jagran , amar ujala ,hidustan times ,times of india , the hindu
etc. ,they have also not product differentiation i.e. they supply same
product .also the price elasticity of demand is infinite i.e. there is no
degree of over the price of the news paper .

Answer no. 3--- the restaurant business comprises monopolistic


competition .because in monopolistic competition there are also several
producers or sellers offering differentiated products according to the
size , quality etc. at differentiated price as there is some control over
price in monopolistic competition market .

Answer no. 4--- yes this is right , because it is a situation of oligopoly


where there are a few sellers , and each company is likely to aware with
the actions of others . and also decision of one firm influence, and are
influenced by decision of others. Also in oligopoly there is kinked
demand curve.

Answer no. 5--- yes I am agree with this statement , as in this situation
they are price setters not the price takers and also the entry barriers are
high . like oligopoly, here also few sellers/suppliers of oil. and also in
this situation there is interdependence and perfect knowledge about the
market.
Answer no. 6----print media market is the example where all this
happens.

Answer no. 7---the reasons are as follows : 1. Oligopolies are price


setters rather than price takers. 2. There are few no. of sellers . 3.
There is perfect knowledge about market. 4. There is
interdependence.

Answer no. 8---- HINDALCO (HINDUSTAN ALUMINIUM COMPANY) . yes


monopoly creates inefficiency in the modern world as there is only
single seller who has the market power of setting price, this power can
be used in the wrong way to earn more profits.

Answer no. 9---- 1. Monopolistic competition 2. Perfect competition

Answer no. 11--- cellular companies like IDEA, AIRTEL, TATA


DOCOMO, RELIANCE . Etc.

Answer no. 12 --- because in perfect competition firms are price takers
and in monopoly the firm is price maker i.e. they have full control over
the price.

Answer no. 13 --- 1. Monopolistic competition. 2. Monopolistic


competition

Answer no. 14--- upward sloping

Answer no. 15--- because introduction of brands made the product


differentiable which can be use as a substitute.

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