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प्रश्न
Following is the feature of perfect competition:
विकल्प
Product differentiation
Homogeneous product
Barriers to entry
Less elastic
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उत्तर
Homogeneous product
Explanation:
In perfect competition, all firms supply a homogeneous product, which means that the items produced by different enterprises appear identical to consumers. There is no product differentiation, and customers don't favour one company's goods over another.
संबंधित प्रश्न
Identify the market having a single buyer and many sellers from the following:
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Match the following and select the correct option:
| Column I | Column II | ||
| (i) | Perfect competition | (A) | Differentiated Products |
| (ii) | Monopoly | (B) | Few large firms |
| (iii) | Monopolistic Competition | (C) | Single seller |
| (iv) | Oligopoly | (D) | Homogeneous products |
Pick the option which does not belong to the group.
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