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प्रश्न
Under which market form is a firm a price taker?
उत्तर
Under the perfect competition form of a market, the firm is a price taker.
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संबंधित प्रश्न
Explain ‘large number of buyers and sellers' features of a perfectly competitive market.
What is a price taker firm?
Explain the implications of the following : Perfect knowledge in perfect competition.
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.
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.
In which market form can a firm not influence the price of the product?
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.
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."
Choose the correct answer from given options
A firm is not a price maker under
Under Perfect Competition, a firm will enjoy normal profit in the long run even if it enjoys supernormal profit in the short run. Explain.
How is Total Revenue under perfect competition different from Total Revenue under imperfect competition? Give two points to show the difference.
A perfectly competitive firm always enjoys normal profit in the long run, irrespective of the situation it faces in the short run. Discuss the statement in brief.
