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प्रश्न
Which one of the following is NOT found in a perfectly competition market?
विकल्प
Perfectly knowledge about the prevailing prices.
A large number of buyers and sellers.
Free entry into or exit from the industry.
Advertising by individual firms.
उत्तर
Advertising by individual firms.
Explanation:
In an entirely competitive marketplace, firms do not advertise since their products are homogeneous and there is no need to separate one from the other. Also, consumers are well aware of the products and costs; thus, advertising would be useless and ineffective.
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संबंधित प्रश्न
Following is the feature of perfect competition:
A monopolist is price maker:
Indian Oil Corporation Limited is an example of a/an ______.
Match the following:
| Column I | Column II | ||
| A. | Monopoly | (i) | Availability of close substitutes |
| B. | Oligopoly | (ii) | Absence of close substitutes |
| C. | Perfect competition | (iii) | Few large sellers |
| D. | Monopolistic competition | (iv) | Homogeneous products |
Define monopolistic competition.
To which market is price discrimination relevant?
Give two examples of monopolistically competitive market.
What is meant by barriers to entry?
There is inverse relation between price and demand for the product of a firm under ______.
What is a price making firm?
