Who determine price of a commodity under perfect competition ?
Market forces
Firm
Buyer
Seller
The monopoly firm is a
Price taker
Price maker
Both a & b
None of these
The demand curve of a firm under perfect competition is
Inelastic
Perfectly inelastic
Perfectly elastic
Elastic
The demand curve facing a seller under monopolistic competition is
Horizontal straight line
Upward sloping
Downward sloping
In which market both monopoly element and competitive element are present
Monopoly
Oligopoly
Monopolistic competition
Perfect competition
The market situation in which a single seller control the market is called
Duopoly
The practice of a monopolist charging different prices for the same commodity to different customers is called
Product differentiation
Price discrimination
A firm under perfect competition is
A price leader
A price taker
A price maker
Perfect competition is a situation under which a commodity ______ is sold it .
A uniform price
Different price
A higher price
A lower price
The demand curve of the monopolist is
A vertical straight line
Upward sloping straight line
Downward sloping straight line
Positive sloping
