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प्रश्न
Which type of market structure is the following? Give reason.
Jeans
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उत्तर
The market structure for jeans is monopolistic competition.
Reason:
- The jeans market is controlled by several sellers, including Levi's, Wrangler, Lee, and several other brands that offer comparable items but differ in terms of style, quality, brand image, and pricing.
- Each brand has some pricing control due to product differentiation, but there are many competitors, and customers can easily switch brands.
- This is an important element of monopolistic competition, where firms compete based on product differentiation rather than price alone.
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संबंधित प्रश्न
Explain three features of Perfect competitive market.
Selling costs are absent in perfect competition market.
Marginal revenue of a firm is constant throughout under:
A monopolist is price maker:
There is no difference between perfect competition and pure competition.
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
The market structure which is characterised by a single producer of a commodity and when there are not close substitutes for that commodity:
There are no substitute goods in a monopoly market. Give a reason to support your answer.
Why is there no need for selling cost under perfect competition?
What is the difference between collusive and non-collusive oligopoly?
