Markets dealing with homogeneous products, which are perfect substitutes referred to as ______.

CA Foundation · Business Economics · PYQS · May 2026
Markets dealing with homogeneous products, which are perfect substitutes referred to as ______.
(A) A. Monopoly
(B) B. Oligopoly
(C) C. Monopolistic Competition
(D) D. Perfect competition

Suggested Answer and Working Notes:

Correct Answer: Option (D)

D. Perfect competition

Topics: Price Determination in Different Markets

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