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प्रश्न
In perfect competition the sellers are selling ______ products.
पर्याय
Identical
Different
Unique
Inexpensive
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उत्तर
In perfect competition the sellers are selling Identical products.
Explanation:
This homogeneity in products means that no single seller can set prices above the market equilibrium, as buyers can easily switch to another seller without any loss of value or utility.
APPEARS IN
संबंधित प्रश्न
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
Assertion (A): In perfect competition, price is determined by the forces of demand and supply.
Reasoning (R): The number of buyers and sellers is so large that one person can not influences prices.
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
Find the odd word out:
Features of perfect competition:
State with reason whether you agree or disagree with the following statement:
The seller is a price taker in perfect competition.
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
In which market form, marginal revenue is equal to price?
In which market form are goods sold at a uniform price?
In a perfectly competitive market, an individual firm is called a price taker because ______.
