Question

A market in which there are large numbers of sellers of a particular product, but each seller sells somewhat differentiated but close products is termed as:

A Perfect competition Correct Answer Incorrect Answer
B Monopoly Correct Answer Incorrect Answer
C Monopolistic competition Correct Answer Incorrect Answer
D Oligopoly Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

Monopolistic competition is a form of market in which there are large numbers of sellers of a particular product but each seller sells somewhat differentiated but close products.

Practice Next
×
×