Oligopoly<\/strong>.<\/p>\nAn oligopoly is a market structure in which a small number of large firms have a high degree of market power. This means that they can influence the prices of their products and services. In the case of manufacturing of T.V. sets and refrigerators and their pricing in India, there are a few large firms that dominate the market. These firms are able to set prices that are higher than they would be in a perfectly competitive market. This is because they have a large share of the market and consumers have few other options to choose from.<\/p>\n
Monopolistic competition is a market structure in which there are a large number of firms that sell similar but not identical products. Firms in a monopolistically competitive market have some market power, but it is not as great as it is in an oligopoly. This is because consumers have more choices in a monopolistically competitive market.<\/p>\n
Perfect competition is a market structure in which there are a large number of firms that sell identical products. Firms in a perfectly competitive market have no market power. This is because consumers have a large number of choices and firms cannot charge a price that is higher than the equilibrium price.<\/p>\n
A monopoly is a market structure in which there is only one firm that sells a good or service. The firm has a great deal of market power and can charge a price that is much higher than the equilibrium price.<\/p>\n
In conclusion, the correct answer is: Oligopoly<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"[amp_mcq option1=”Monopolistic competition” option2=”Perfect competition” option3=”Monopoly” option4=”Oligopoly” correct=”option1″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-49155","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"\n
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