Product differentiation is an important feature of
Monopoly
Discriminating monopoly
Monopolistic competition
Oligopoly
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 demand curve of a firm under perfect competition is
Inelastic
Perfectly inelastic
Influently elastic
Elastic
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
Perfect competition is a situation under which a commodity ______ is sold it .
A uniform price
Different price
A higher price
A lower price
The practice of a monopolist charging different prices for the same commodity to different customers is called.
Product differentiation
Price discrimination
The market situation in which a single seller control the market is called
Duopoly
Perfect competition
Expenses incurred in marketing goods are called
Fixed costs
Valuable costs
Selling costs
Total cost
Product homogenity is a feature of
Imperfect competition
The monopoly firm is a
Price taker
Price maker
Both a & b
Neither a nor b
