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प्रश्न
Which type of market structure is the following? Give reason.
Lipstick
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उत्तर
The market structure for lipstick is monopolistic competition.
Reason:
Many suppliers in the lipstick market provide similar items that differ in terms of brand, colour variety, quality, packaging, and price. Maybelline, L'Oréal, MAC, and Revlon compete by differentiating their products through marketing, packaging, and distinct characteristics. This variety and competition among multiple enterprises with varied products are hallmarks of monopolistic competition.
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संबंधित प्रश्न
Explain three features of Perfect competitive market.
The seller in a monopoly market is a price maker.
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
Which of the following is the least competitive market?
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.
Give an example of oligopoly.
Identify the market form of the following:
Market for toilet soaps in India.
State the market form of the following commodity.
Shampoos
Identify the market form for the item given below:
A single seller
Why can a monopolist charge different prices in different markets?
