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Question
Pick the option which does not belong to the group.
Options
Railways
Shampoos
Televisions
Biscuits
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Solution
Railways
Explanation:
Railways are typically a monopoly market (particularly in countries like India, where the government owns and operates the railways), whereas shampoos, televisions, and biscuits are products found in competitive markets such as monopolistic competition or oligopoly, in which many producers offer differentiated goods.
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RELATED QUESTIONS
Marginal revenue of a firm is constant throughout under:
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 |
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