Pure competition is a situation in which a commodity sells a
Higher price
A lower price
A uniform price
Price
Duopoly is a market situation under which there are
Only one seller
Two seller
Few seller
None of these
Competition among the few is the other name of
Monopoly
Oligopoly
Pure competition
Duopoly
Perfect competition is a situation under which a commodity ______ is sold it .
Different price
A higher price
Product differentiation is an important feature of
Discriminating monopoly
Monopolistic competition
The practice of a monopolist charging different prices for the same commodity to different customers is called.
Product differentiation
Price discrimination
The demand curve of a firm under perfect competition is
Inelastic
Perfectly inelastic
Influently elastic
Elastic
The demand curve facing an individual seller under pure and perfect competition is
A vertical straight line
A horizontal straight line
A downward sloping straight line
A upward sloping straight line
The monopoly firm is a
Price taker
Price maker
Both a & b
Neither a nor b
A firm under perfect competition is
A price leader
A price taker
A price maker
