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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.
APPEARS IN
संबंधित प्रश्न
"The price of a product under perfect competition is determined by an individual seller."
State two important characteristics of monopoly.
Identify the market form of the following:
The Government of India is the sole buyer of fighter aircrafts.
Identify the market form for the item given below:
Homogeneous goods
Discuss any four differences between monopoly and monopolistic competition.
Which type of market structure is the following? Give reason.
Trucks
What is meant by barriers to entry?
What does perfectly elastic demand curve faced by a competitive firm indicate?
In what respects does oligopoly differ from monopoly?
In which type of market are firms interdependent and a few large firms dominate?
