Demand curve is elastic under:
A) Perfect competition
B) Monopoly
C) Monopolistic competition
D) All of the above
Correct Answer:
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Q14: Suppose a competitive firm produces 100 units
Q15: That the perfectly competitive firm will pick
Q16: If an additional worker costs you Rs.
Q17: Entry is restricted under:
A)Perfect competition
B)Monopoly
C)Monopolistic competition
D)All of
Q18: Demand curve is perfectly elastic under:
A)Perfect competition
B)Monopoly
C)Monopolistic
Q20: Demand curve is inelastic under:
A)Perfect competition
B)Monopoly
C)Monopolistic competition
D)All
Q21: Differentiated but close substitutes exist under:
A)Perfect competition
B)Monopoly
C)Monopolistic
Q22: Selling cost is insignificant under:
A)Perfect competition
B)Monopoly
C)Monopolistic competition
D)All
Q23: Few firms exist under:
A)Perfect competition
B)Oligopoly
C)Monopolistic competition
D)Both perfect
Q24: In which market structure, price and output
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