Question

there are many firms producing soaps in India ​

Answer 1

Answer:

1.This is an example of a market structure where there are a large number of firms producing similar goods but are slightly differentiated from one another.

2.Such type of competition is called a monopolistic competition for a competitive market.

3.There are a lot of products in the market within which the consumer can choose the right product for himself according to his own needs and preference.

4.For example Dove or Lux all the soup companies whose target consumers are women or young girls.

5.Similarly Cynthol produced soaps for men and young boys.

Firms:

1. Godrej consumer
2. Rb health
3. wipro consumer care
4. ITC limited
5. jyothi labs
6. hindustan unilever
7. swati soap
8. baldha industries limited
9. kavit soap industries
10. vasa global company

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