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प्रश्न
Define the market which has product differentiation as a distinguishing characteristic.
व्याख्या
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उत्तर
Monopolistic competition is the market structure characterised by product differentiation. Monopolistic competition is that form of market in which there are a large number of sellers of a particular product, with each seller selling a somewhat differentiated product that is a close substitute for the products produced by other sellers.
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