Q. 25.0( 1 Vote )

Which marke

Answer :

Product differentiation is the main characteristic feature of monopolistic competition. Under monopolistic competition firms produce differentiated products. These products are differentiated on the basis of physical characteristics of the product like quality, size, design, and colour and also differentiated on the basis of conditions in which products are sold like location of the shop, behaviour of the seller, credit facility etc.


Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
caricature
view all courses
RELATED QUESTIONS :

Explain the impliEconomics - Board Papers

Explain three proEconomics - Board Papers

Demand curve of aEconomics - Board Papers

The differentiateEconomics - Board Papers

A firm is able toEconomics - Board Papers