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प्रश्न
Can a seller in monopolistic competition market influence price? Explain.
स्पष्ट करा
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उत्तर
Yes, a seller in monopolistic competition can influence price because their product is differentiated from others. This allows them to have some control over pricing, unlike in perfect competition. However, the presence of many close substitutes limits their power, and in the long run, competition reduces their ability to charge higher prices.
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