Question

    Monopoly and Oligopoly are the examples of?

    A Perfect competition Correct Answer Incorrect Answer
    B Imperfect competition Correct Answer Incorrect Answer
    C Regulated market Correct Answer Incorrect Answer
    D Pure competition Correct Answer Incorrect Answer

    Solution

    Imperfect competition refers to a situation where the characteristics of an economic market do not fulfil all the necessary conditions of a perfectly competitive. There are FOUR broad market structures that result in Imperfect Competition.

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