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प्रश्न
Which type of market structure is the following? Give reason.
Jeans
थोडक्यात उत्तर
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उत्तर
The market structure for jeans is monopolistic competition.
Reason:
- The jeans market is controlled by several sellers, including Levi's, Wrangler, Lee, and several other brands that offer comparable items but differ in terms of style, quality, brand image, and pricing.
- Each brand has some pricing control due to product differentiation, but there are many competitors, and customers can easily switch brands.
- This is an important element of monopolistic competition, where firms compete based on product differentiation rather than price alone.
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संबंधित प्रश्न
Which two forms of market earn normal profit in the long run?
In which type of market price discrimination is practiced? Explain with an example.
The image above shows a departmental store of a market structure.
- Identify the form of market as observed from the above image.
- Discuss the features of this market form with respect to:
- Type of product
- Entry and exit of firms
- Selling cost
Which one of the following is NOT found in a perfectly competition market?
Give two characteristics of perfect competition.
State two important characteristics of monopoly.
Identify the market form for the item given below:
A single buyer
Define monopoly.
Which market form has the least number of producers?
What is the effect on price when a perfectly competitive firm tries to sell more?
