Read the following statements - Assertion (A) and Reasoning (R):
Assertion: Indian vegetable market is a monopolistically competitive market.
Reasoning: The products are homogeneous with sellers having no control over price in Indian vegetable market.
Assertion: Indian vegetable market is a monopolistically competitive market.
Reasoning: The products are homogeneous with sellers having no control over price in Indian vegetable market.
Answer & explanation
Correct answer: option 4
Indian vegetable market is a perfectly competitive market because of large number of sellers selling homogeneous products and having no control over the price.