Product differentiation is the most important feature of
A). Monopolistic competition
B). Monopoly
C). Oligopoly
D). Perfect competition
Monopolistic competition
Product differentiation is the most important feature of Monopolistic competition. Monopolistic Competition refers to a market situation in which there are large numbers of firms which sell closely related but differentiated products.
1. Question 9:Why is it essential to have different CPI for different categories of consumers?
2. Question 17:What do you mean by a normal good?
5. Question 7:Why is r preferred to covariance as a measure of association?
7. When the demand for a good increases with an increase in income,such a good is called
8. If price changes by 1% and supply changes by 2%, then supply is