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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
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
'Homogeneous products' is a characteristic of ______.
A monopolist is price maker:
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
Identify the market form for the item given below:
A single buyer
Explain the main characteristics of a monopoly.
What does perfectly elastic demand curve faced by a competitive firm indicate?
In what respects does oligopoly differ from monopoly?
Mention one feature of a monopoly market.
Which feature best distinguishes monopolistic competition from perfect competition?
