In perfectly competitive market
A. |
Firm is the price giver and the industry the price-taker
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B. |
Firm is the price-taker and industry the price maker
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C. | Both are the price-takers |
D. | None of these |
Option: B Explanation : Click on Discuss to view users comments. Vishnudev p k said: (5:30am on Friday 13th April 2018)
Meaning of Perfectly competitive Market
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A. | Goods will be sold in many markets |
B. | Cost of production falls and hence price |
C. | Consumers get better quality goods |
D. | None of the above answer is correct |
Option: B Explanation : Click on Discuss to view users comments. |
A. | An inferior good |
B. | A luxury |
C. | A necessity |
D. | A non-related good |
Option: B Explanation : Click on Discuss to view users comments. |
A. | An increase in output |
B. | A decrease in output |
C. | Constant output |
D. | None of the above |
Option: A Explanation : Click on Discuss to view users comments. |