Market Structure and Pricing — Economics STD 11 — Question
Tamilnadu BoardEnglish MediumSTD 11EconomicsMarket Structure and Pricing2 Marks
Question
Write a note imperfect competition.
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Answer
This concept was introduced by Joan Robinson and E.H.Chamberlin. Imperfect competition is a competitive market situation where there are many sellers, but they are selling heterogeneous goods. Competitive markets are imperfect in nature.
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