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प्रश्न
Give two reasons why monopolistic competition is the most realistic form of a market.
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उत्तर
Monopolistic competition is the most realistic form of market because:
- Most of the products sold in the market have close substitutes.
- The sellers of products are in large numbers.
संबंधित प्रश्न
Which of the following is a feature of monopolistic competition?
In monopolistic competition, the essential feature is ______.
Monopolistic competition is a form of ______.
Explain any three features of a monopolistic market.
The following diagram represents the demand curve of a firm under ______.
Which of the following market types has a large number of firms that sell similar but slightly different products?
Under which market form firm is price taker?
Which statement best describes monopolistic competition?
Why does a firm in monopolistic competition have some control over the price of its product?
What happens in a market with free entry and exit under monopolistic competition?
