Question : In which among the following markets does a firm not exercise control over price?
Option 1: Mixed competition
Option 2: Monopoly
Option 3: Oligopoly
Option 4: Perfect competition
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Correct Answer: Perfect competition
Solution : The correct answer is Perfect competition .
A company does not have pricing control over its goods in a perfectly competitive market. Perfect competition is a market system that is distinguished by many essential characteristics. There are countless tiny enterprises in a completely competitive market, each producing similar or homogenous items. These companies have little market power and are classified as price takers, which means they must accept the market price as it is and cannot change it with their activities.
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Question : In which of the following market forms, a firm does not exercise control over price?
Question : Match the characteristics with their market structure:
(a) Difficult entry (often due to economies of scale)
(b) Can sell as much as it can at the market price
Question : In which market form a market or an industry is dominated by a few firms?
Question : In which market firm, a market or an industry is dominated by a single seller?
Question : If the ___ firm has zero or only a fixed cost, the quantity supplied in equilibrium is given by the point where the marginal revenue is zero.
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