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Today General Knowledge(GK)
Imperfect competition arises when
A)
There are unexplainable imperfections in the market
B)
Product variation, ignorance of consumers and distance and transport costs lead to imperfections in the competitive market which operates on certain assumptions
C)
There is imperfect rivalry among competitors
D)
Competition does not exist

Correct Answer : Option (B) - Product variation, ignorance of consumers and distance and transport costs lead to imperfections in the competitive market which operates on certain assumptions


Published On : May 21, 2021
Category : Business and Economics
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