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प्रश्न
Which type of market structure is the following? Give reason.
Lipstick
उत्तर
The market structure for lipstick is monopolistic competition.
Reason:
Many suppliers in the lipstick market provide similar items that differ in terms of brand, colour variety, quality, packaging, and price. Maybelline, L'Oréal, MAC, and Revlon compete by differentiating their products through marketing, packaging, and distinct characteristics. This variety and competition among multiple enterprises with varied products are hallmarks of monopolistic competition.
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संबंधित प्रश्न
Read the given statements carefully and select the correct option.
- The number of sellers under oligopoly are small.
- In monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions.
Which of the following market types has the fewest number of firms?
Match the following:
| Column I | Column II | ||
| A. | Demand curve under perfect competition | (i) | Indeterminate demand curve |
| B. | Demand curve under monopoly | (ii) | Downward sloping but less elastic |
| C. | Demand curve under monopolistic competition | (iii) | Horizontal straight line |
| D. | Demand curve under oligopoly | (iv) | Elastic demand curve |
What is monopsony?
State two important characteristics of monopoly.
Identify the market form for the item given below:
A single buyer
To which market is price discrimination relevant?
What do you mean by homogeneous products?
Which market form has the least number of producers?
Name the characteristic which makes monopolistic competition different from perfect competition.
