The practice of a monopolist charging different prices for the same commodity to different customers is called
Product differentiation
Price discrimination
Monopolistic competition
Monopoly
Duopoly is a market situation under which there are
Only one seller
Two seller
Few seller
None of these
The market situation in which a single seller control the market is called
Oligopoly
Duopoly
Perfect competition
Expenses incurred in marketing goods are called
Fixed costs
Valuable costs
Selling costs
The demand curve of the monopolist is
A vertical straight line
Upward sloping straight line
Downward sloping straight line
Positive sloping
Who determine price of a commodity under perfect competition ?
Market forces
Firm
Buyer
Seller
Perfect competition is a situation under which a commodity ______ is sold it .
A uniform price
Different price
A higher price
A lower price
The monopoly firm is a
Price taker
Price maker
Both a & b
The simplest form of oligopoly is
Monopsony
Which of the following conditions exist under both pure and perfect competition ?
Homogenous product
Single buyer or seller
Differentiated product
Large number of buyers and sellers
