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प्रश्न
"The price of a product under perfect competition is determined by an individual seller."
पर्याय
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
Identify the market having a single buyer and many sellers from the following:
Explain three features of Perfect competitive market.
State the advantage of monopolistic competition over monopoly.
Identify the market form for the following:
Railways in India.
State the market form of the following commodity.
Railways
Identify the market form for the item given below:
Product differentiation
Give two examples of monopolistically competitive market.
What is meant by the term 'price taker'?
Identify the market form from the following.
Price discrimination
There is inverse relation between price and demand for the product of a firm under ______.
