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  • A monopolistic market, which of the following statements is true?<stron

A monopolistic market, which of the following statements is true?

Option: 1

Firms have no control over the prices they charge.


Option: 2

There are many sellers offering identical products


Option: 3

A single firm has a dominant position with unique products


Option: 4

Firms compete vigorously on price.


Answers (1)

best_answer

A monopolistic market is characterized by the presence of a single dominant firm that has a significant market share and typically offers unique products or services. This firm has substantial control over pricing and market conditions due to its dominance. The other options (a, b, and d) do not accurately describe a monopolistic market. hence option c is correct.

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shivangi.bhatnagar

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