The demand curve of a firm under perfect competition is
Inelastic
Perfectly inelastic
Perfectly elastic
Elastic
The monopoly firm is a
Price taker
Price maker
Both a & b
None of these
The demand curve facing an oligopolist is
Determinate
Indeterminate
Definite
Indefinite
Expenses incurred in marketing goods are called
Fixed costs
Valuable costs
Selling costs
Pure competition is a situation in which a commodity sells a
Higher price
A lower price
A uniform price
Price
The simplest form of oligopoly is
Monopoly
Duopoly
Monopsony
Monopolistic competition
Perfect competition is a situation under which a commodity ______ is sold it .
Different price
A higher price
The demand curve facing a seller under monopolistic competition is
Horizontal straight line
Upward sloping
Downward sloping
The market situation in which a single seller control the market is called
Oligopoly
Perfect competition
Competition among the few is the other name of
Pure competition
