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प्रश्न
Define product differentiation.
Define the following concept.
Product Differentiation
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उत्तर १
Product differentiation refers to differentiating the products on the basis of brand, size, color, shape, etc.
उत्तर २
According to Chamberlin, “A General class of product is differentiated if any sufficient basis exists for distinguishing the goods of one dealer from those of another. Such a basis may be real so long as it is of importance whatsoever to buyers and leads to a preference for any variety of the product over another”.
संबंधित प्रश्न
Firm A hires the services of Rohit Sharma to act as the Brand ambassador for its products X. Identify the nature of market for commodity X.
Following is the feature of perfect competition:
A monopolist is price maker:
Which one of the following is NOT found in a perfectly competition market?
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
Define monopolistic competition.
Define monopsony.
Give two characteristics of perfect competition.
Identify the market form of the following:
Motor car market in India.
Identify the market form for the following:
Perfectly elastic demand.
State the market form of the following commodity.
Automobiles
Identify the market form for the item given below:
A single seller
Identify the market form for the item given below:
Product differentiation
Which type of market structure is the following? Give reason.
Scooters
Which type of market structure is the following? Give reason.
Jeans
Identify the market form from the following:
A few large sellers
What is a price making firm?
Why an individual firm under perfect competition cannot influence the market price?
Which feature best distinguishes monopolistic competition from perfect competition?
