The demand curve of a firm under perfect competition is :
A) Inelastic
B) Perfectly inelastic
C) Infinitely elastic
D) Unitary elastic
Correct Answer:
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Q1: When there are only two sellers, the
Q2: Perfect competition is a market situation under
Q4: The price of a commodity under the
Q5: Equilibrium literally means:
A)Balance
B)Imbalance
C)Change
D)None of these
Q6: The price at which the demand and
Q7: Cost of advertisement and salesmanship is called:
A)Sales
Q8: Price leadership is a feature of:
A)Monopoly
B)Oligopoly
C)Duopoly
D)Monopolistic Competition
Q9: The market situation characterized by one buyer
Q10: Under the Perfect competition, products are:
A)Heterogeneous
B)Homogenous
C)Semi-homogeneous
D)All of
Q11: The demand curve of Monopoly firm is
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