There are a large number of sellers and the demand curve is not elastic in nature. It is _____ type of market.

Perfect competition

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Monopoly

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Monopolistic competition

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All of the above

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Solution

The correct option is C Monopolistic competition
Monopolistic competition is a market structure where there are large number of sellers selling differentiated products.There is also no entry barriers on the firm. The demand curve is also inelastic in nature. Hence, the market where there are large number of sellers and the demand curve is not elastic in nature. It is monopolistic competition type of market.

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