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Question
______ is relevant to perfect competition.
Options
Perfectly inelastic demand
Perfectly elastic demand
Downward sloping demand curve
Highly elastic demand curve
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Solution
Perfectly elastic demand is relevant to perfect competition.
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RELATED QUESTIONS
Assertion (A): In perfect competition, price is determined by the forces of demand and supply.
Reasoning (R): The number of buyers and sellers is so large that one person can not influences prices.
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
Find the odd word out:
Features of perfect competition:
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
In perfect competition the sellers are selling ______ products.
______ goods refer to those products which are identical in quality, shape, size, color, etc.
Explain the following feature of perfect competition:
Homogeneous products
In which market form are goods sold at a uniform price?
