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प्रश्न
Imperfect knowledge is a characteristic feature of:
विकल्प
Perfect competition and monopoly
Monopsony and perfect competition
Monopoly and monopolistic competition
Monopolistic competition and perfect competition
उत्तर
Monopoly and monopolistic competition
Explanation:
Monopolies and monopolistic competition are defined by imperfect knowledge. Buyers and sellers in these markets lack complete or perfect knowledge of prices, products, and market conditions, allowing businesses to manage pricing and product differentiation.
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संबंधित प्रश्न
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
Following is not the feature of perfect competition:
Observe the relationship of the first pair of words and complete the second pair.
Single seller in the market : Monopoly
Single buyer in the market : ______
Give two characteristics of perfect competition.
State the advantage of monopolistic competition over monopoly.
Identify the market form of the following:
Market for toilet soaps in India.
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Explain the main characteristics of a monopoly.
Which market form has the least number of producers?
What is the effect on price when a monopoly firm tries to sell more?
