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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
Define Discriminating Monopoly.
Which two forms of market earn normal profit in the long run?
'Homogeneous products' is a characteristic of ______.
Indian Railways is an example of ______.
Observe the relationship of the first pair of words and complete the second pair.
Single seller in the market : Monopoly
Single buyer in the market : ______
The seller in a monopoly market is a price maker.
Imperfect knowledge is a characteristic feature of:
There are no substitute goods in a monopoly market. Give a reason to support your answer.
Give two examples of a monopolistically competitive market.
What is the difference between perfect and imperfect oligopoly?
