Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Non Competitive markets

Question:
Maximum variety of goods is offered to consumers in which form of market?
Options:
Monopoly
Perfect competition
Monopolistic competition
Oligopoly
Correct Answer:
Monopolistic competition
Explanation:
: In monopolistic competition, there is large number of sellers selling differentiated products. In oligopoly, there are a few firms. In monopoly, there is only a single firm. Hence variety gets restricted. In perfect competition, the products are homogeneous.