MONOPOLISTIC COMPETITION|Forms of market| ECONOMICS| 12TH NEW SYLLABUS |MAHARASHTRA BOARD

THIS VIDEO EXPLAINS MONOPOLISTIC COMPETITION IN DETAIL FROM CHAPTER 5. FORMS OF MARKET IN NEW TEXTBOOK OF 12TH NEW SYLLABUS MAHARASHTRA BOARD ECONOMICS.
QUESTION: FEATURES OF MONOPOLISTIC COMPETITION
ANSWER:
FAIRLY LARGE NUMBER OF SELLERS.
FAIRLY LARGE NUMBER OF BUYERS.
PRODUCT DIFFERENTIATION.
FREE ENTRY AND EXIT.
SELLING COST.
CLOSE SUBSTITUTES.
CONCEPT OF GROUP
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