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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
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
Following is the feature of perfect competition:
Indian Railways is an example of ______.
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
A holiday resort in a remote village is very popular among the tourists. Since the connectivity is very poor with the outer world, the owner employs the local villagers for the functioning of the resort.
This is a case of:
Match the following:
| Column I | Column II | ||
| A. | Monopoly | (i) | Availability of close substitutes |
| B. | Oligopoly | (ii) | Absence of close substitutes |
| C. | Perfect competition | (iii) | Few large sellers |
| D. | Monopolistic competition | (iv) | Homogeneous products |
Define perfect competition.
Define monopsony.
Give two characteristics of perfect competition.
Identify the market form for the following:
Railways in India.
Define monopoly.
Which type of market structure is the following? Give reason.
Jeans
Which type of market structure is the following? Give reason.
Lipstick
Which type of market structure is the following? Give reason.
Ball-pen
Give two examples of a monopolistically competitive market.
To which market form are homogeneous products relevant?
What is meant by barriers to entry?
What is the difference between perfect and imperfect oligopoly?
Identify the market form from the following.
Price discrimination
There are a large number of buyers and sellers under a ______ market.
