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प्रश्न
Which type of market structure is the following? Give reason.
Ball-pen
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उत्तर
The market structure for ball pens is monopolistic competition.
Reason:
- Many ball-pen manufacturers, including Parker, Reynolds, Cello, and others, provide identical devices with minor differences in design, ink quality, pricing, and branding.
- Each company tries to differentiate its product to attract customers, and while there are numerous brands, no single firm dominates the market.
- Monopolistic competition is defined by its focus on product differentiation and the presence of many enterprises.
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संबंधित प्रश्न
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
Which among the following is a feature of monopsony market?
Which of the following is the least competitive market?
Mention two features of monopoly.
Why is there no need for selling cost under perfect competition?
State the market form of the following commodity.
Railways
State the market form of the following commodity.
Fighter Aircrafts
Name the market in which there is a single buyer and many sellers. Give an example.
Give an example of price discrimination.
What is meant by barriers to entry?
