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प्रश्न
Following is not the feature of perfect competition:
पर्याय
Very large number of buyers and sellers
Homogeneous product
Free entry or exit of firms
Selling costs
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उत्तर
Selling costs
Explanation:
Under perfect competition, there are no selling costs since the items are homogeneous and the same across enterprises. Firms do not need to differentiate or sell their products because they are all the same, and consumers are well-informed.
संबंधित प्रश्न
Non-price competition is ______.
Justify the following statement with any two valid arguments. 'In a perfect competition market structure, an individual firm does not have any role in determining price’.
Selling costs are absent in perfect competition market.
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 |
Pick the option which does not belong to the group.
Read the given statements carefully and select the correct option.
- The number of sellers under oligopoly are small.
- In monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions.
Identify the market form for seller A on the basis of the following information:
| Units of output sold | Price offered by seller A in ₹ |
| 30 | 10 |
| 40 | 10 |
| 50 | 10 |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
Identify the market form for the following:
Textile industry in India.
Identify the market form for the item given below:
Homogeneous goods
Identify the market form for the item given below:
A single buyer
Explain any four features of perfect competition.
To which market is price discrimination relevant?
What do you mean by homogeneous products?
What is meant by barriers to entry?
What does perfectly elastic demand curve faced by a competitive firm indicate?
There are a large number of buyers and sellers under a ______ market.
In which market form is there a single seller and no close substitutes for the product?
