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प्रश्न
Identify the market form of the following:
Market for toilet soaps in India.
Which type of market structure is the following? Give reason.
Toilet soap
उत्तर
The market for toilet soaps in India represents monopolistic competition.
Reason:
- Lux, Dove, Pears, Nivea, Lifebuoy, and more merchants compete in the Indian toilet soap industry, offering various goods. While the core product (toilet soap) serves the same purpose, manufacturers differentiate their soaps through packaging, smell, quality, and marketing tactics.
- This product differentiation, along with a large number of suppliers, is characteristic of monopolistic competition.
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संबंधित प्रश्न
Which two forms of market earn normal profit in the long run?
What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.
Marginal revenue of a firm is constant throughout under:
A seller cannot influence the market price under:
Indian Oil Corporation Limited is an example of a/an ______.
"The price of a product under perfect competition is determined by an individual seller."
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
Pick the option which does not belong to the group.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
Producers in a monopoly are price makers. Briefly explain.
What are selling costs?
Why is there no need for selling cost under perfect competition?
Highlight the importance of selling costs in a monopolistically compatible market.
Name the market in which there is a single buyer and many sellers.
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Which type of market structure is the following? Give reason.
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Which type of market structure is the following? Give reason.
Mobile phone services
Elaborate the price discrimination feature of monopoly.
Identify the market form from the following.
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Why do producers incur high selling costs in an imperfect market?
