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प्रश्न
In perfect competition the sellers are selling ______ products.
पर्याय
Identical
Different
Unique
Inexpensive
उत्तर
In perfect competition the sellers are selling Identical products.
Explanation:
This homogeneity in products means that no single seller can set prices above the market equilibrium, as buyers can easily switch to another seller without any loss of value or utility.
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संबंधित प्रश्न
What is perfect competition? Explain the concept and its features.
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
Find the odd word out:
Features of perfect competition:
State with reason whether you agree or disagree with the following statement:
The seller is a price taker in perfect competition.
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
Homogeneous products are sold under ______.
______ is essential for a market to be called as perfect competition.
Firms under ______ are free to enter or leave the industry any time.
