1.

Complete the following statements.(1) Equilibrium price is that level of price where ………… (2) A seller is price maker in ……… (3) A welfare oriented monopoly is called …… (4) A Market in which sellers sell and buyers buy the product in the region in which it is produced is called ……(5) A market in which buyers and sellers trade in goods and services across the national borders is called ………… (6) A classification of market on the basis of place are local, national and ………… (7) A market on the basis of competition which is ideal and imaginary concept is called……… (8) A market showing some but not all the features of a competitive market is called……… (9) When a private body controls a monopoly firm, it is called ………(10) When the production is totally controlled and operated by the government it is known as………(11) Tea cultivation in Assam is an example of………(12) A firm which charges different prices to different buyers for the same product, it is called………(13) When some monopolists come together voluntarily to form a group of monopolists, it is called ………(14) Different brands of washing powders, liquid cleaners are examples of…………(15) Selling cost is an important feature of……………(16) Mobile service providers and cement companies are examples of …………(17) A period of production is so long that all inputs are variable is called …………(18) A market in which supply is fixed is called …………(19) A book “Theory of Monopolistic Competition is written by ………(20) The objective of the seller in monopoly market is ………(21) Under monopoly there is existence of ………

Answer»

1. market demand is equal to market supply 

2. monopoly . 

3. public monopoly

4. local market 

5. international market 

6. international 

7. perfect competition 

8. imperfect market 

9. private monopoly 

10. public monopoly 

11. natural monopoly 

12. discriminating monopoly 

13. voluntary monopoly 

14. monopolistic competition 

15. monopolistic competition 

16. oligopoly market 

17. very long period market 

18. very short period market 

19. Prof. E. H. Chamberlin 

20. profit maximisation 

21. single seller



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