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Market Structure and Pricing — Economics STD 11 — Question

Tamilnadu BoardEnglish MediumSTD 11EconomicsMarket Structure and Pricing1 Mark
Question
Identify the wrong statement about the features of Duopoly.
(a) There is product differentiation
(b) They fix the price for their product to maximise their profit
(c) Each seller is fully aware of his rival’s motive and actions
(d) Both sellers may collude regarding the sale of commodity.
✓

Answer

There is product differentiation

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