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Question
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
Options
(i) C, (ii) D, (iii) B, (iv) A
(i) C, (ii) A, (iii) D, (iv) B
(i) D, (ii) C, (iii) B, (iv) A
(i) B, (ii) D, (iii) A, (iv) C
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Solution
(i) C, (ii) D, (iii) B, (iv) A
Explanation:
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (C) | Perfect competition |
| (ii) | Less elastic demand | (D) | Monopoly |
| (iii) | More elastic demand | (B) | Monopolistic competition |
| (iv) | Indeterminate demand | (A) | Oligopoly |
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