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Question
In which market form are goods sold at a uniform price?
Solution
Perfect competition
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RELATED QUESTIONS
What is perfect competition? Explain the concept and its features.
Homogeneous product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
Assertion (A): In perfect competition, price is determined by the forces of demand and supply.
Reasoning (R): The number of buyers and sellers is so large that one person can not influences prices.
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 product is a feature of this market.
- Monopoly
- Monopolistic competition
- Perfect competition
- Oligopoly
The following diagram represents the demand curve of a firm under ______.
In which market form, marginal revenue is equal to price?
In which market form is the firm a price taker?
Firms under ______ are free to enter or leave the industry any time.
