30 Oct 2021
Problem 13
Page 250
Section: REVIEW QUESTIONS
Chapter 10: Monopolistic Competition and Oligopoly
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30 Oct 2021
Introduction
Oligopoly is a form of market which is dominated by a small number of large sellers. Oligopolies can result in reduced competition and may lead to higher prices for the consumers.
Monopolistic Competition is a kind of imperfect competition where there are large number of producers, each sell differentiated products and there is freedom of entry and exit in the long run.
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