Expenses incurred in marketing goods are called
Fixed costs
Valuable costs
Selling costs
None of these
The monopoly firm is a
Price taker
Price maker
Both a & b
Product homogenity is a feature of
Imperfect competition
Perfect competition
Monopolistic competition
Monopoly
Pure competition is a situation in which a commodity sells a
Higher price
A lower price
A uniform price
Price
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 simplest form of oligopoly is
Duopoly
Monopsony
The market situation in which a single seller control the market is called
Oligopoly
In which market both monopoly element and competitive element are present
The demand curve of a firm under perfect competition is
Inelastic
Perfectly inelastic
Perfectly elastic
Elastic