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Solution - Main Market Forms

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What is price-maker firm?

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Differentiated products is a characteristic of: (Choose the correct alternative):

(a) Monopolistic competition only

(b) Oligopoly only

(c) Both monopolistic competition and oligopoly

(d) Monopoly

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What are the features of perfect competition.

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Explain the implications of the following in an oligopoly market:

(a) Inter- dependence between firms

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Explain the implications of the following in a perfectly competitive market :

Homogeneous products.

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Product differentiation is the most distinguishing feature of monopolistic competition.

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Solution for concept: Main Market Forms. For the courses 12th CBSE (Arts), 12th CBSE (Commerce), 12th CBSE (Science)
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