A pre shipment credit is allowed to an exporter, generally on the basi

1.	A pre shipment credit is allowed to an exporter, generally on the basis of
Answer» ANSWER: The principal difference between these two is that in the case of perfect COMPETITION the firms are price takers, whereas in monopolistic competition the firms are price MAKERS. Perfect competition is not realistic, it is a HYPOTHETICAL situation, on the other HAND, monopolistic competition is a practical scenario.

A pre shipment credit is allowed to an exporter, generally on the basis of

Answer»

The principal difference between these two is that in the case of perfect COMPETITION the firms are price takers, whereas in monopolistic competition the firms are price MAKERS. Perfect competition is not realistic, it is a HYPOTHETICAL situation, on the other HAND, monopolistic competition is a practical scenario.

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