ECONOMICS
COMPETITION AND MARKET STRUCTURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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oligopoly
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monopoly
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monopolistic competition
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communism
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Detailed explanation-1: -The most common examples of imperfect competition are monopoly, monopolistic competition, and oligopoly.
Detailed explanation-2: -Which of the following is not the feature of an imperfect competition? Explanation: A homogeneous product is one that cannot be distinguished from competing products from different suppliers.
Detailed explanation-3: -Monopolistic competition: This is a situation in which many firms compete with slightly different goods. Monopoly: A corporation that has no competition in its business. Oligopoly: This is a market with only a few firms. Monopsony: A single-buyer market and many sellers. More items •01-Mar-2023
Detailed explanation-4: -Companies sell identical products with no product differentiation. The market consists of a large enough number of buyers and sellers so that no company can influence the price it charges and consumers alone set the price they are willing to pay each company. More items