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Defice monopolistic competition....

Defice monopolistic competition.

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It refers to a market situation in which there are large number of firms which sell closely reated but differentiated products. Firms have partial control over price.
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RADHA BHUGANA-FORMS OF MARKET AND PRICE DETERMINATION UNDER PERFECT COMPETITION WITH SIMPLE APPLICATIONS -OBJECTIVE TYPE QUESTIONS
  1. Define perfect competition.

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  2. Define Monopoly market.

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  3. Defice monopolistic competition.

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  4. What is oligopoly ?

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