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Fill in the Blank with Appropriate Alternative Given Below in ________ Market, Seller Creates Products Differentiation. - Economics

MCQ

Fill in the blank with appropriate alternative given below

In ________ market, seller creates products differentiation.

Options

  • competition

  • perfect

  • pure

  • monopolistic competition

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Solution

In monopolistic competition market, seller creates products differentiation.

Product differentiation is an important feature of monopolistic competition. It means that the producers in a monopolistic market sell goods that are different from each other; that is, the goods of no two producers will be the same. They may be differentiated in terms of colour, size, fragrance, etc.

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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 6 Forms of Market and Price Determination Under Perfect Competition
Exercise | Q 1.4 | Page 52
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