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प्रश्न
Which statement best describes monopolistic competition?
पर्याय
One seller, no close substitutes
Many sellers selling identical products
Many small sellers selling differentiated but close substitute products
Few large sellers controlling the market
MCQ
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उत्तर
Many small sellers selling differentiated but close substitute products
Explanation:
In monopolistic competition, there are many small firms and each sells a differentiated product which has close substitutes in the market.
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