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प्रश्न
Which type of market structure is the following? Give reason.
Ball-pen
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उत्तर
The market structure for ball pens is monopolistic competition.
Reason:
- Many ball-pen manufacturers, including Parker, Reynolds, Cello, and others, provide identical devices with minor differences in design, ink quality, pricing, and branding.
- Each company tries to differentiate its product to attract customers, and while there are numerous brands, no single firm dominates the market.
- Monopolistic competition is defined by its focus on product differentiation and the presence of many enterprises.
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संबंधित प्रश्न
How is Perfect competitive market is different from a monopoly market?
Following is not the feature of perfect competition:
Marginal revenue of a firm is constant throughout under:
Indian Railways is an example of ______.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
Explain any four features of perfect competition.
Product differentiation is practised in monopolistic competition? Give reasons.
What induces new firms to enter an industry?
Name the market which has characteristics both of monopoly and perfect competition.
There are a large number of buyers and sellers under a ______ market.
