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Question
Identify the market form for the following:
Perfectly elastic demand.
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Solution
The market form associated with perfectly elastic demand is perfect competition.
RELATED QUESTIONS
Non-price competition is ______.
Explain three features of Perfect competitive market.
How is Perfect competitive market is different from a monopoly market?
“While shopping for fruits in the local market you see many seller selling fruits”. In this context answer the following:
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| Units of output sold | Price offered by seller A in ₹ |
| 30 | 10 |
| 40 | 10 |
| 50 | 10 |
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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.
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Name the characteristic which makes monopolistic competition different from perfect competition.
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