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प्रश्न
Read the given statements carefully and select the correct option.
- The number of sellers under oligopoly are small.
- In monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions.
पर्याय
Both A and B are true
Both A and B are false
A is true, B is false
A is false, B is true
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उत्तर
A is true, B is false
Explanation:
- Statement A is true: An oligopoly is a market structure dominated by a small number of large sellers who have a sizable market share and are highly interdependent.
- Statement B is false: In a monopolistically competitive market, buyers and sellers have incomplete knowledge due to considerable product differentiation and heavy branding, making direct comparisons impossible. Perfect market knowledge is exclusively a feature of perfect competition.
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संबंधित प्रश्न
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
Which among the following is a feature of monopsony market?
Give three points of difference between perfect competition and monopoly.
Why is there no need for selling cost under perfect competition?
Identify the market form of the following:
Motor car market in India.
Explain the main characteristics of a monopoly.
What is meant by the term ‘price taker’?
What is meant by barriers to entry?
In what respects does oligopoly differ from monopoly?
Identify the market form from the following.
Price discrimination
