Advertisements
Advertisements
प्रश्न
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
विकल्प
True
False
Advertisements
उत्तर
This statement is True.
Explanation:
In a completely competitive market, all firms sell identical items, which means they are perfect substitutes for one another. Consumers consider items from different companies as unrelated, with no differences in quality or features.
APPEARS IN
संबंधित प्रश्न
Indian Oil Corporation Limited is an example of a/an ______.
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
What is meant by pure competition?
Define oligopoly.
Identify the market form of the following:
Market for toilet soaps in India.
Identify the market form for the item given below:
A single buyer
Which type of market structure is the following? Give reason.
Scooters
Why can a monopolist charge different prices in different markets?
Identify the market form from the following.
Perfect knowledge
