In _____ market goods are sold at uniform price.
Monopoly
Perfect competition
Oligopoly
Duopoly
A monopolist will determine very ______ price for a commodity having inelastic demand.
High
Low
Normal
Constant
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
