The demand curve facing an individual seller under pure and perfect competition is
A vertical straight line
A horizontal straight line
A downward sloping straight line
A upward sloping straight line
Competition among the few is the other name of
Monopoly
Oligopoly
Pure competition
Duopoly
Duopoly is a market situation under which there are
Only one seller
Two seller
Few seller
None of these
Perfect competition is a situation under which a commodity ______ is sold it .
A uniform price
Different price
A higher price
A lower price
A firm under perfect competition is
A price leader
A price taker
A price maker
In which market both monopoly element and competitive element are present
Monopolistic competition
Perfect competition
The simplest form of oligopoly is
Monopsony
Who determine price of a commodity under perfect competition ?
Market forces
Firm
Buyer
Seller
The practice of a monopolist charging different prices for the same commodity to different customers is called
Product differentiation
Price discrimination
The monopoly firm is a
Price taker
Price maker
Both a & b