The structure of the cold drink industry ih India is best described as :
(a) Perfectly competitive
(b) Monopolistic
(c) Monopolistically cpmpetitive market earn normal profits
(d) Oligopolistic
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Answer:
c. Monopolistically compitative
Explanation:
The structure of the cold drink industry in India is monopolistically compitative in which there are many firms selling differentiated products!!
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The structure of the cold drink industry in India is best described as a monopolistically competitive market.
What are the features of a monopolistic competitive market?
- In a monopolistic competition market, there is a large number of firms are present in which sellers sell their products according to the needs of the buyers
- There are free entry and exit of the firm in this market
- The buyers and the sellers of this market have less knowledge about the product
- The price of the product is determined by the sellers
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