The demand curve facing a seller under monopolistic competition is
Horizontal straight line
Upward sloping
Downward sloping
None of these
The market situation in which a single seller control the market is called
Oligopoly
Duopoly
Monopoly
Perfect competition
Product differentiation is an important feature of
Discriminating monopoly
Monopolistic competition
All the above
The simplest form of oligopoly is
Monopsony
Pure competition is a situation in which a commodity sells a
Higher price
A lower price
A uniform price
Price
Duopoly is a market situation under which there are
Only one seller
Two seller
Few seller
The monopoly firm is a
Price taker
Price maker
Both a & b
The demand curve of a firm under perfect competition is
Inelastic
Perfectly inelastic
Perfectly elastic
Elastic
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
Product homogenity is a feature of
Imperfect competition
