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प्रश्न
Why does a firm in monopolistic competition have some control over the price of its product?
पर्याय
Because there are no buyers
Because products are homogeneous
Because the government fixes the price
Because of product differentiation
MCQ
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उत्तर
Because of product differentiation
Explanation:
Each firm’s product is slightly different in terms of quality, style, or branding, so it can charge a somewhat different price from its rivals.
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