In perfect competition
The price equals the marginal revenue
The price equals the average variables costs
The fixed cost equals the variable costs
The price equals the total costs
In a monopoly, which of the following is not true?
Products are differentiated
There is freedom of entry and exit into the industry in the long run
The firm is a price maker
There is one main seller
A firm can fix independent price under - market
Perfect competition
Pure competition
Imperfect competition
Monopoly
A monopolist will determine very ______ price for a commodity having inelastic demand.
High
Low
Normal
Constant
