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प्रश्न
In monopolistic competition, there are ______.
विकल्प
Few firms selling differentiated products.
Large number of firms selling differentiated products.
Large number of firms selling homogeneous products.
Few firms selling a homogeneous products.
उत्तर
In monopolistic competition, there are large number of firms selling differentiated products.
Explanation:
The monopolistic competition involves many enterprises, each selling a differentiated product. These products are similar but not identical, allowing businesses to maintain some pricing control while competing in the marketplace.
संबंधित प्रश्न
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
Selling costs are absent in perfect competition market.
'A few big sellers' is a characteristic of ______.
A seller cannot influence the market price under:
Indian Railways is an example of ______.
Match the following and select the correct option:
| Column I | Column II | ||
| (i) | Perfect competition | (A) | Differentiated Products |
| (ii) | Monopoly | (B) | Few large firms |
| (iii) | Monopolistic Competition | (C) | Single seller |
| (iv) | Oligopoly | (D) | Homogeneous products |
Indian Oil Corporation Limited is an example of a/an ______.
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
Identify the market form for seller A on the basis of the following information:
| Units of output sold | Price offered by seller A in ₹ |
| 30 | 10 |
| 40 | 10 |
| 50 | 10 |
What is perfect competition?
What is monopsony?
What is meant by product differentiation?
In which form of market is the seller a price taker? Justify your answer.
Identify the market form for the following:
Textile industry in India.
State the market form of the following commodity.
Shampoos
Which type of market structure is the following? Give reason.
Trucks
Which type of market structure is the following? Give reason.
Mobile phone services
What is meant by barriers to entry?
Elaborate the price discrimination feature of monopoly.
There is inverse relation between price and demand for the product of a firm under ______.
