Under the Perfect competition, products are:
A) Heterogeneous
B) Homogenous
C) Semi-homogeneous
D) All of these
Correct Answer:
Verified
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
Q11: The demand curve of Monopoly firm is
Q12: The payment given to the factor labour
Q13: Monopoly is:
A)Presence of competition
B)Absence of competition
C)Both A
Q14: A monopolist is a:
A)Price taker
B)Price maker
C)Policy maker
D)All
Q15: Long run equilibrium price is also called:
A)Normal
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