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प्रश्न
Why is there no need for selling cost under perfect competition?
Name a market where selling cost is not required. Give a reason for your answer.
Why are selling costs not incurred in perfect competition?
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उत्तर
Selling costs are not incurred in perfect competition as there exists perfect knowledge among the buyers and sellers of homogeneous products.
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संबंधित प्रश्न
A monopolist is price maker:
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
A holiday resort in a remote village is very popular among the tourists. Since the connectivity is very poor with the outer world, the owner employs the local villagers for the functioning of the resort.
This is a case of:
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
Define perfect competition.
What is meant by pure competition?
Define oligopoly.
Define product differentiation.
Identify the market form of the following:
Market for toilet soaps in India.
Identify the market form for the following:
Textile industry in India.
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?
Which type of market structure is the following? Give reason.
Scooters
With the help of an example explain the meaning of price discrimination.
Why can a monopolist charge different prices in different markets?
What is meant by the term ‘price taker’?
What is the effect on price when a monopoly firm tries to sell more?
What is a price making firm?
Why an individual firm under perfect competition cannot influence the market price?
