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प्रश्न
Which one of the following is NOT found in a perfectly competition market?
पर्याय
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
Differentiated products is a characteristic of ______.
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | (A) | Oligopoly |
| (ii) | Less elastic demand | (B) | Monopolistic competition |
| (iii) | More elastic demand | (C) | Perfect competition |
| (iv) | Indeterminate demand | (D) | Monopoly |
Which of the following statements are true?
- Monopolistically competitive markets have high selling costs.
- Monopolistically competitive markets sell homogeneous goods.
- Any firm can start a business in a monopolistically competitive market.
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
State the market form of the following commodity.
Railways
Which type of market structure is the following? Give reason.
Mobile phone services
Which type of market structure is the following? Give reason.
Jeans
Product differentiation is practised in monopolistic competition? Give reasons.
What induces new firms to enter an industry?
