CBSE (Arts) Class 12CBSE
Share
Notifications

View all notifications

Homogenous Product’ is a Characteristic of : (Choose the Correct Alternative) - CBSE (Arts) Class 12 - Economics

Login
Create free account


      Forgot password?

Question

Homogenous product’ is a characteristic of : (choose the correct alternative)

(a) Perfect competition only

(b) Perfect oligopoly only

(c) Both (a) and (b)

(d) None of the above

Solution

The correct option is (c). All firms in a perfectly competitive market and perfect oligopoly market sell identical units of a product. Hence, the characteristic of a homogeneous product prevails under both the forms of market.

  Is there an error in this question or solution?

Video TutorialsVIEW ALL [2]

Solution Homogenous Product’ is a Characteristic of : (Choose the Correct Alternative) Concept: Main Market Forms.
S
View in app×