A firm under perfect competition is
A price leader
A price taker
A price maker
None of these
Product differentiation is an important feature of
Monopoly
Discriminating monopoly
Monopolistic competition
Oligopoly
The demand curve facing a seller under monopolistic competition is
Horizontal straight line
Upward sloping
Downward sloping
Expenses incurred in marketing goods are called
Fixed costs
Valuable costs
Selling costs
Total cost
The demand curve facing an oligopolist is
Determinate
Indeterminate
Definite
Indefinite
Competition among the few is the other name of
Pure competition
Duopoly
Perfect competition is a situation under which a commodity ______ is sold it .
A uniform price
Different price
A higher price
A lower price
The monopoly firm is a
Price taker
Price maker
Both a & b
Neither a nor b
In which market both monopoly element and competitive element are present
Perfect competition
The demand curve of a firm under perfect competition is
Inelastic
Perfectly inelastic
Influently elastic
Elastic
