Ankita Pandey posted an Question
August 20, 2021 • 09:22 am 30 points
  • UGC NET
  • Economics

Juestion: 9/700 model solved papers (1-7) - economics match list - i with list-ll and select the answer using the code given below the lists= ist - i list - mar

Juestion: 9/700 Model Solved Papers (1-7) - Economics Match List - I with List-ll and select the answer using the code given below the lists= ist - I List - Market Type) (Implication) a. Perfect competition 1. Collusion of firms . Monopoly 2. Excess capacity . Monopolistic competition 3. Uniform prio . oligopoly 4. Blocked entry Codes abcd 2431 3124 2134 3 421 View Solution 2134

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  • Rucha rajesh shingvekar best-answer

    option d Excess capacity is more defined under monopolistic competition due to the nature of the market structure. Unlike perfectly competitive markets where the demand curve is horizontal, monopolistic competitive markets show a downward sloping demand curve. Uniform price prevails under perfect market. Collusion occurs when oligopoly firms make joint decisions, and act as if they were a single firm. Collusion requires an agreement, either explicit or implicit, between cooperating firms to restrict output and achieve the monopoly price.

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