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प्रश्न
Choose the correct answer from given options
A firm is not a price maker under
विकल्प
oligopoly
monopolistic competition
monopoly
perfect competition
उत्तर
A firm is not a price maker under perfect competition.
Hence, the correct answer is option perfect competition.
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संबंधित प्रश्न
What is a price taker firm?
Explain Perfect knowledge about the markets feature of perfect competition.
Under what market condition does Average Revenue always equal Marginal Revenue? Explain.
There are no barriers in the way of firms leaving or joining industry in a perfectly competitive market. Explain the significance of this feature.
Under which market form is a firm a price taker?
Why can a firm not earn abnormal profits under perfect competition in the long run? Explain.
Explain the implication of ‘freedom of entry and exit to the firms’ under perfect competition.
Explain how price is determined in a perfectly competitive market with fixed number of firms.
How is the optimal amount of labour determined in a perfectly competitive market?
Show with the help of a diagram, how a perfectly competitive firm earns a normal profit in short-run equilibrium.
Answer the following question.
Is a firm under perfect competition a price taker, or a price maker? Justify your answer.
Identify the market form and explain the corresponding feature, as given in the following statement:
"The commodity in this market has attributes which are identical for sellers and buyers."
Under Perfect Competition, a firm will enjoy normal profit in the long run even if it enjoys supernormal profit in the short run. Explain.
Explain the short-run equilibrium of a firm facing losses under Perfect Competition.
A car company ‘W’ hired an international cricket player for its endorsement in India, while two other car companies’ ‘Y’ and ‘R’ hired two famous Bollywood film stars for this purpose. Explain the features of the competitive market indicated above.
