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प्रश्न
Which type of market structure is the following? Give reason.
Jeans
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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
Following is not the feature of perfect competition:
Indian Oil Corporation Limited is an example of a/an ______.
A market where homogeneous products are sold with no control over price by an individual firm or a buyer is ______.
Define perfect competition.
Mention two features of monopoly.
There are no substitute goods in a monopoly market. Give a reason to support your answer.
Identify the market form for the item given below:
A single buyer
Which type of market structure is the following? Give reason.
Soft drinks
What is the difference between collusive and non-collusive oligopoly?
Mention one feature of a monopoly market.
