With reference to farm planning and optimun resource use
consider the following: 1. Monopolistic Competition 2. Perfect Competition 3. Oligogoly 4. Monopoly What is the correct arrangement of these market as per the number of seller in ascending order?
A3, 4, 2 and 1Correct AnswerIncorrect Answer
B4, 3, 1 and 2Correct AnswerIncorrect Answer
C2, 3, 4 and 1Correct AnswerIncorrect Answer
D1, 2, 3 and 4Correct AnswerIncorrect Answer
Solution
Arrangement of market structures by the number of sellers in ascending order: Monopoly: One seller Oligopoly: Few sellers Monopolistic Competition: Many sellers with differentiated products Perfect Competition: Many sellers with identical products
