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Question
Indian Railways is an example of ______.
Options
Monopolistic competition
Perfect competition
Monopoly
Oligopoly
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Solution
Indian Railways is an example of Monopoly.
Explanation:
Indian Railways is an example of a monopoly because it is India's sole provider of railway transportation services, which is government-controlled. There are no direct competitors in the rail transport business; hence, Indian Railways has complete control over price and services.
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