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प्रश्न
Following is not the feature of perfect competition:
विकल्प
Very large number of buyers and sellers
Homogeneous product
Free entry or exit of firms
Selling costs
उत्तर
Selling costs
Explanation:
Under perfect competition, there are no selling costs since the items are homogeneous and the same across enterprises. Firms do not need to differentiate or sell their products because they are all the same, and consumers are well-informed.
संबंधित प्रश्न
What do you mean by price discrimination?
Which two forms of market earn normal profit in the long run?
In which type of market price discrimination is practiced? Explain with an example.
Indian Oil Corporation Limited is an example of a/an ______.
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
"The price of a product under perfect competition is determined by an individual seller."
Which of the following statements are true?
- Monopolistically competitive markets have high selling costs.
- Monopolistically competitive markets sell homogeneous goods.
- Any firm can start a business in a monopolistically competitive market.
Imperfect knowledge is a characteristic feature of:
Read the following statements carefully and choose the correct alternative:
Assertion (A): Buyers are ready to pay different prices for the product produced by different firms under perfect competition.
Reason (R): The products offered for sale in the perfect market are homogeneous.
Producers in a monopoly are price makers. Briefly explain.
Give three points of difference between perfect competition and monopoly.
To which market is product differentiation relevant?
Identify the market form of the following:
Market for toilet soaps in India.
State the market form of the following commodity.
Fighter Aircrafts
Identify the market form for the item given below:
Product differentiation
Which type of market structure is the following? Give reason.
Ball-pen
To which market form are homogeneous products relevant?
What is the effect on price when a perfectly competitive firm tries to sell more?
There are a large number of buyers and sellers under a ______ market.
