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.

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