"In a hypothetical market of mobile phones, the brand AWAAZ was leading the market share. Its nearest competitor VAARTA suddenly changed its strategy by bringing in a new model of the moblile phone at a relatively lesser price in response, AWAAZ to slashed its price. " Based on the above information, identify the form of market represented and discuss any one feature of the market.

"In a hypothetical market of mobile phones, the brand AWAAZ was leadin

1.	"In a hypothetical market of mobile phones, the brand AWAAZ was leading the market share. Its nearest competitor VAARTA suddenly changed its strategy by bringing in a new model of the moblile phone at a relatively lesser price in response, AWAAZ to slashed its price. " Based on the above information, identify the form of market represented and discuss any one feature of the market.
Answer» <html><body><p></p>Solution :(i) few big firms and large no. of buyers <br/> (ii) Price <a href="https://interviewquestions.tuteehub.com/tag/rigidity-623827" style="font-weight:bold;" target="_blank" title="Click to know more about RIGIDITY">RIGIDITY</a> (Non-price competition) <br/> (<a href="https://interviewquestions.tuteehub.com/tag/iii-497983" style="font-weight:bold;" target="_blank" title="Click to know more about III">III</a>) Barriers to entry of fiems <br/> (<a href="https://interviewquestions.tuteehub.com/tag/iv-501699" style="font-weight:bold;" target="_blank" title="Click to know more about IV">IV</a>) <a href="https://interviewquestions.tuteehub.com/tag/interdependence-517307" style="font-weight:bold;" target="_blank" title="Click to know more about INTERDEPENDENCE">INTERDEPENDENCE</a> <br/> (Note. For detail <a href="https://interviewquestions.tuteehub.com/tag/refer-621103" style="font-weight:bold;" target="_blank" title="Click to know more about REFER">REFER</a> to Section 10.6 of chapter 10)</body></html>