In a monopolistic market, goods are __________________
Homogenous
Heterogeneous
Differentiated
None of these
Perfect competition is a situation in which a commodity sells at ______________.
Higher price
Lower price
Uniform price
_____________ refers to the types of market in which the firms operate.
Market structure
Competitive market
Oligopoly market
_______________ are neither fully competitive nor fully monopolistic.
Monopolistic competition
Oligopoly
a and b
Perfect competition
Perfect competition is characterized by ___________________
Large number of firms
Homogenous product
Individual firm can't influences price
All of these
Larger is the number of sellers ________________ would be the power of the firm to influence the price.
Smaller
Larger
Constant
_________________ are the extreme forms of the market.
Monopoly
In perfect competition, prices are determined by ______________________
Single firm
Two firm
Three firms
Industry
Goods market is where _______________ sold.
Only good
Only services
Goods and services
Industry refers to ________________
Two firms
Group firms