The structure of the toothpaste industry in India is best described as :
(a) Perfectly Competitive
(b) Monopolistic
(c) Monopolistically competitive
(d) Oligopolistic
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Answer:
d. Oligopolistic
Explanation:
The toothpaste industry is oligopolistic
in nature because no single producer has dominating control over the market!!
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The structure of the toothpaste industry in India is best described as perfect competition.
What are the features of Perfect Competition?
- In this market, there are a large number of buyers and sellers are present
- The same type of product is supplied by every firm in this market
- In this market, there is free entry and exit of the firm
- The cost of advertising any product is free of cost
- The buyers and the sellers have known about the products of the market
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