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Non-Competitive Markets — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsNon-Competitive Markets4 Marks
Question
Distinguish between perfect and imperfect oligopoly.
✓

Answer

S. No
Basis
Perfect oligopoly
Imperfect oligopoly
1.
Meaning
In the case of perfect oligopoly, firms produce homogenous products
In imperfect oligopoly, firms produce differentiated products.
2.
Example
Copper, iron and steel and aluminium.
Toilet soap, cigarettes or soft drinks.
3.
Alternative name
Pure oligopoly
Impure or Differentiated.

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