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प्रश्न
Which one of the following is NOT found in a perfectly competition market?
पर्याय
Perfectly knowledge about the prevailing prices.
A large number of buyers and sellers.
Free entry into or exit from the industry.
Advertising by individual firms.
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उत्तर
Advertising by individual firms.
Explanation:
In an entirely competitive marketplace, firms do not advertise since their products are homogeneous and there is no need to separate one from the other. Also, consumers are well aware of the products and costs; thus, advertising would be useless and ineffective.
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संबंधित प्रश्न
Identify the market form for seller A on the basis of the following information:
| Units of output sold | Price offered by seller A in ₹ |
| 30 | 10 |
| 40 | 10 |
| 50 | 10 |
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.
Give an example of oligopoly.
With the help of an example explain the meaning of price discrimination.
What induces new firms to enter an industry?
What is the difference between perfect and imperfect oligopoly?
What is the difference between collusive and non-collusive oligopoly?
Identify the market form from the following.
Perfect knowledge
Why do producers incur high selling costs in an imperfect market?
Name the characteristic which makes monopolistic competition different from perfect competition.
