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प्रश्न
Which one of the following is NOT found in a perfectly competition market?
विकल्प
Perfectly knowledge about the prevailing prices.
A large number of buyers and sellers.
Free entry into or exit from the industry.
Advertising by individual firms.
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उत्तर
Advertising by individual firms.
Explanation:
In an entirely competitive marketplace, firms do not advertise since their products are homogeneous and there is no need to separate one from the other. Also, consumers are well aware of the products and costs; thus, advertising would be useless and ineffective.
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संबंधित प्रश्न
Non-price competition is ______.
Following is the feature of perfect competition:
Differentiated products is a characteristic of ______.
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 |
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
There are no substitute goods in a monopoly market. Give a reason to support your answer.
Identify the market form from the following.
Perfect knowledge
Identify the market form from the following:
A few large sellers
Mention one feature of a monopoly market.
Name the characteristic which makes monopolistic competition different from perfect competition.
