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प्रश्न
In monopolistic competition, there are ______.
विकल्प
Few firms selling differentiated products.
Large number of firms selling differentiated products.
Large number of firms selling homogeneous products.
Few firms selling a homogeneous products.
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उत्तर
In monopolistic competition, there are large number of firms selling differentiated products.
Explanation:
The monopolistic competition involves many enterprises, each selling a differentiated product. These products are similar but not identical, allowing businesses to maintain some pricing control while competing in the marketplace.
संबंधित प्रश्न
Which two forms of market earn normal profit in the long run?
Identify the market having a single buyer and many sellers from the following:
Following is the feature of perfect competition:
Which among the following is a feature of monopsony market?
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
Match the following:
| Column I | Column II | ||
| A. | Demand curve under perfect competition | (i) | Indeterminate demand curve |
| B. | Demand curve under monopoly | (ii) | Downward sloping but less elastic |
| C. | Demand curve under monopolistic competition | (iii) | Horizontal straight line |
| D. | Demand curve under oligopoly | (iv) | Elastic demand curve |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
Define perfect competition.
Give three points of difference between perfect competition and monopoly.
Define oligopoly.
Give an example of monopsony.
Identify the market form for the following:
Textile industry in India.
Give an example of monopoly.
Explain the main characteristics of a monopoly.
Discuss any four differences between monopoly and monopolistic competition.
Which type of market structure is the following? Give reason.
Trucks
Which type of market structure is the following? Give reason.
Mobile phone services
Which type of market structure is the following? Give reason.
Soft drinks
What is a price making firm?
