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प्रश्न
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.
विकल्प
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is true but Reason (R) is false.
Assertion (A) is false but Reason (R) is true.
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उत्तर
Assertion (A) is true but Reason (R) is false.
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संबंधित प्रश्न
Which two forms of market earn normal profit in the long run?
Selling costs are absent in perfect competition market.
Which of the following is the least competitive market?
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Railways in India.
What induces new firms to enter an industry?
What is the difference between perfect and imperfect oligopoly?
What is the difference between collusive and non-collusive oligopoly?
In what respects does oligopoly differ from monopoly?
Identify the market form from the following.
Perfect knowledge
In which market form is there a single seller and no close substitutes for the product?
