Existence of large number of buyers and sellers and homogenous product is a feature of :
A) monopoly
B) duopoly
C) perfect competition
D) oligopoly
Correct Answer:
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Q10: A profit maximizing firm under a perfectly
Q11: To minimize cost of production at any
Q12: In Chamberlin and Kinked demand curve model,
Q13: In the case of price leadership by
Q14: If an oligopolist incurs losses in the
Q16: Product differentiation is a characteristic of:
A)monopoly
B)perfect competition
C)monopolistic
Q17: A firm under Perfect Competition is a:
A)price
Q18: Selling cost is a feature of :
A)perfect
Q19: Oligopoly is characterized by:
A)a few sellers
B)one seller
C)large
Q20: When there are only two sellers, the
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