Larger is the number of sellers ________________ would be the power of the firm to influence the price.
Smaller
Larger
Constant
None of these
Market needs to exist in some geographical place. This statement is.
Absolutely true
Absolutely false
Only partially correct
Available information is incomplete
In a monopolistic market, goods are __________________
Homogenous
Heterogeneous
Differentiated
_______________ are neither fully competitive nor fully monopolistic.
Monopolistic competition
Oligopoly
a and b
Perfect competition
In perfect competition, prices are determined by ______________________
Single firm
Two firm
Three firms
Industry
Closed entry is the features of _______________ markets.
both a and b
Monopoly
_____________ refers to the types of market in which the firms operate.
Market structure
Competitive market
Oligopoly market
Price maker firms exist under ________________ competition.
Plannigs a special feature of_____________ economy.
Socialist
Capitalist
Mixed economy
_________________ are the extreme forms of the market.
