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Identify the correctly matched items from Column I to that of Column II:
  • a)
    A–1
  • b)
    B–2
  • c)
    C–3
  • d)
    D–4
Correct answer is option 'C'. Can you explain this answer?
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Identify the correctly matched items from Column I to that of Column ...
  • Monopoly Market: A market structure characterized by a single seller, selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute. He enjoys the power of setting the price for his goods.
  • Perfect Competition Market: Perfect competition is an ideal type of market structure where all producers and consumers have full and symmetric information, no transaction costs, where there are a large number of producers and consumers competing with one another. Perfect competition is theoretically the opposite of a monopolistic market.
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