Q: Which of the following factors signify monopolistic competition ? 1. Differentiated products 2. Large number of buyers and sellers 3. Barriers to entry 4. Homogeneous products Select the correct answer using the code given below :
(a)1 and 2 only
(b)1, 2 and 3 only
(c)3 and 4 only
(d)2 and 4 only
Correct Answer: (b)
The correct answer is (b) '1, 2 and 3 only'. Among the 4 statements given, this option correctly identifies which statements are accurate regarding Miscellaneous (General Studies).