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प्रश्न
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
पर्याय
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is true but Reason (R) is false.
Assertion (A) is false but Reason (R) is true.
उत्तर
Assertion (A) is true but Reason (R) is false.
APPEARS IN
संबंधित प्रश्न
“While shopping for fruits in the local market you see many seller selling fruits”. In this context answer the following:
- What is the type of market referred to?
- State and draw the type of demand curve faced by the market above.
- Differentiate between the market indicated above and monopoly on the basis of:
- No. of sellers
- Market price
- Entry and exit of firms in the market
Following is the feature of perfect competition:
Indian Oil Corporation Limited is an example of a/an ______.
Pick the option which does not belong to the group.
Which of the following is the least competitive market?
What is perfect competition?
Give an example of monopsony.
What is meant by product differentiation?
Identify the market form for the following:
Railways in India.
Why an individual firm under perfect competition cannot influence the market price?
