The practice of a monopolist charging different prices for the same commodity to different customers is called.
Product differentiation
Price discrimination
Monopolistic competition
Monopoly
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
The demand curve facing an oligopolist is
Determinate
Indeterminate
Definite
Indefinite
A firm under perfect competition is
A price leader
A price taker
A price maker
None of these
The simplest form of oligopoly is
Duopoly
Monopsony
Oligopoly
Competition among the few is the other name of
Pure competition
In which market both monopoly element and competitive element are present
Perfect competition
The monopoly firm is a
Price taker
Price maker
Both a & b
Neither a nor b
Expenses incurred in marketing goods are called
Fixed costs
Valuable costs
Selling costs
Total cost
The market situation in which a single seller control the market is called
