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प्रश्न
Following is not the feature of perfect competition:
विकल्प
Very large number of buyers and sellers
Homogeneous product
Free entry or exit of firms
Selling costs
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उत्तर
Selling costs
Explanation:
Under perfect competition, there are no selling costs since the items are homogeneous and the same across enterprises. Firms do not need to differentiate or sell their products because they are all the same, and consumers are well-informed.
संबंधित प्रश्न
Identify the market having a single buyer and many sellers from the following:
In monopolistic competition, there are ______.
Observe the relationship of the first pair of words and complete the second pair.
Single seller in the market : Monopoly
Single buyer in the market : ______
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
Identify the market form for seller A on the basis of the following information:
| Units of output sold | Price offered by seller A in ₹ |
| 30 | 10 |
| 40 | 10 |
| 50 | 10 |
Match the following:
| Column I | Column II | ||
| A. | Demand curve under perfect competition | (i) | Indeterminate demand curve |
| B. | Demand curve under monopoly | (ii) | Downward sloping but less elastic |
| C. | Demand curve under monopolistic competition | (iii) | Horizontal straight line |
| D. | Demand curve under oligopoly | (iv) | Elastic demand curve |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
State the market form of the following commodity.
Fighter Aircrafts
Discuss any four differences between monopoly and monopolistic competition.
What do you mean by homogeneous products?
What is meant by barriers to entry?
What is the effect on price when a perfectly competitive firm tries to sell more?
What does perfectly elastic demand curve faced by a competitive firm indicate?
Identify the market form from the following.
Firm is a price maker.
Identify the market form from the following.
Price discrimination
Mention one feature of a monopoly market.
In which market form is there a single seller and no close substitutes for the product?
In which type of market are firms interdependent and a few large firms dominate?
