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प्रश्न
"The price of a product under perfect competition is determined by an individual seller."
विकल्प
True
False
उत्तर
This statement is False.
Explanation:
Under perfect competition, an individual seller does not determine the price of a product. Instead, the price is set by market forces such as supply and demand. Individual sellers are price takers, meaning they must accept the market price and cannot change it independently.
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संबंधित प्रश्न
The seller in a monopoly market is a price maker.
Read the given statements carefully and select the correct option.
- The number of sellers under oligopoly are small.
- In monopolistically competitive markets, buyers and sellers have perfect knowledge about the market conditions.
A holiday resort in a remote village is very popular among the tourists. Since the connectivity is very poor with the outer world, the owner employs the local villagers for the functioning of the resort.
This is a case of:
What is monopsony?
Identify the market form of the following:
The Government of India is the sole buyer of fighter aircrafts.
State the market form of the following commodity.
Automobiles
Name the market in which there is a single buyer and many sellers.
Explain the main characteristics of a monopoly.
In what respects does oligopoly differ from monopoly?
There are a large number of buyers and sellers under a ______ market.
