Duopoly is a market situation under which there are
Only one seller
Two seller
Few seller
None of these
The demand curve facing a seller under monopolistic competition is
Horizontal straight line
Upward sloping
Downward sloping
Perfect competition is a situation under which a commodity ______ is sold it .
A uniform price
Different price
A higher price
A lower price
Who determine price of a commodity under perfect competition ?
Market forces
Firm
Buyer
Seller
The market situation in which a single seller control the market is called
Oligopoly
Duopoly
Monopoly
Perfect competition
Competition among the few is the other name of
Pure competition
The demand curve facing an oligopolist is
Determinate
Indeterminate
Definite
Indefinite
The demand curve of a firm under perfect competition is
Inelastic
Perfectly inelastic
Influently elastic
Elastic
The practice of a monopolist charging different prices for the same commodity to different customers is called.
Product differentiation
Price discrimination
Monopolistic competition
Which of the following conditions exist under both pure and perfect competition ?
Homogenous product
Single buyer or seller
Differentiated product
Large number of buyers and sellers
