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प्रश्न
"The price of a product under perfect competition is determined by an individual seller."
पर्याय
True
False
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उत्तर
This statement is False.
Explanation:
Under perfect competition, an individual seller does not determine the price of a product. Instead, the price is set by market forces such as supply and demand. Individual sellers are price takers, meaning they must accept the market price and cannot change it independently.
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संबंधित प्रश्न
Discuss any two features of a monopolistically competitive market.
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
How is Perfect competitive market is different from a monopoly market?
Mention two features of monopoly.
State the market form of the following commodity.
Automobiles
Identify the market form for the item given below:
Product differentiation
In which form of market do producers and consumers have perfect knowledge about the market conditions?
Discuss any four differences between monopoly and monopolistic competition.
In what respects does oligopoly differ from monopoly?
Why do producers incur high selling costs in an imperfect market?
