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Why is a monopolistic said to …

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Why is a monopolistic said to be price maker with constraint? Explain

Posted by Ritika Kashyap 7 years, 10 months ago

CBSE > Class 12 > Economics

2 answers

Ankur V 7 years, 10 months ago

In Monopolistic market seller are considered as price maker whereas in perfect market they are said to be price taker Its because Perfect market have large number of sellers and market is very competitive infact there goods are homogeneous in nature so we can say they have many substitutes . in Monopolistic market goods are not have so much of substitutes as compared to perfect market and seller is allowed to fix the price of the goods on its own according to their brand and quality of their products

Vaidehi Saraf 7 years, 10 months ago

M.C. is a price maker as it has partial control over price. Due to the availability of close substitute it donot have full control over price.

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