Differentiated but close substitutes exist under:

Related MCQs

• Under monopolistic competition, an increase in the number of firms producing close substitutes will make the demand curve of each firm
• If a firm sells its output on a market that is characterized by a single seller and many buyers of a homogeneous product for which there are no close substitutes and barriers to long-run resource mobility, then the firm is
• Differentiated products is a characteristic of:
• The market structure which has large number of sellers selling differentiated product is called
• If a firm sells its output on a market that is characterized by many sellers and buyers, a differentiated product, and unlimited long-run resource mobility, then the firm is
• Which of the following is a differentiated product?
• The marker structure which have large number of sellers selling differentiated product is called
• Few firms exist under:
• Which of the following markets comes close to satisfying the assumptions of a perfectly competitive market structure?
• If a perfectly competitive firm finds that the profit maximizing output level occurs where price is equal to marginal cost but is less than average variable cost