In a Perfect competitive market
A) Firm is the price giver and the industry is a price taker
B) Firm is the price taker and the industry is a price giver
C) Both are price makers
D) Both are price takers
Correct Answer:
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Q1: The following are conditions of perfect competition
Q2: The following are conditions of perfect competition
Q3: The condition of short run equilibrium under
Q4: The large number of firms producing the
Q5: Individual firm has no control on the
Q7: One of the essential conditions of perfect
Q8: Under perfect market conditions the individual firm
Q9: The condition of short run equilibrium under
Q10: Under perfect market conditions mobility of resources
Q11: A firm under perfect competitions shall be
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