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प्रश्न
Define product differentiation.
Define the following concept.
Product Differentiation
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उत्तर १
Product differentiation refers to differentiating the products on the basis of brand, size, color, shape, etc.
उत्तर २
According to Chamberlin, “A General class of product is differentiated if any sufficient basis exists for distinguishing the goods of one dealer from those of another. Such a basis may be real so long as it is of importance whatsoever to buyers and leads to a preference for any variety of the product over another”.
संबंधित प्रश्न
Which two forms of market earn normal profit in the long run?
In monopolistic competition, there are ______.
Indian Oil Corporation Limited is an example of a/an ______.
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
Define perfect competition.
Give three points of difference between perfect competition and monopoly.
Define monopolistic competition.
Identify the market form for the following:
Perfectly elastic demand.
State the market form of the following commodity.
Automobiles
Identify the market form for the item given below:
Product differentiation
Explain any four features of perfect competition.
Which type of market structure is the following? Give reason.
Mobile phone services
With the help of an example explain the meaning of price discrimination.
Give two examples of a monopolistically competitive market.
Why can a monopolist charge different prices in different markets?
Identify the market form from the following.
Firm is a price maker.
Identify the market form from the following.
Price discrimination
Name the characteristic which makes monopolistic competition different from perfect competition.
Which of the following is an example of a perfectly competitive market?
