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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
Indian Railways is an example of ______.
Which one of the following is NOT found in a perfectly competition market?
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
In which form of market is the seller a price taker? Justify your answer.
State the market form of the following commodity.
Fighter Aircrafts
Which type of market structure is the following? Give reason.
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Give two examples of a monopolistically competitive market.
What is the effect on price when a monopoly firm tries to sell more?
Name the market which has characteristics both of monopoly and perfect competition.
In what respects does oligopoly differ from monopoly?
