Question

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

Answer 1

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!!

Answer 2

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