Question : In which of the following market forms, a firm does not exercise control over price?
Option 1: Monopoly
Option 2: Perfect competition
Option 3: Oligopoly
Option 4: Monopolistic competition
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Correct Answer: Perfect competition
Solution : The correct option is Perfect competition .
Perfect competition is an ideal type of market structure where all producers and consumers have full and symmetric information and no transaction costs. There are a large number of producers and consumers competing with one another in this kind of environment.
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Question : In which among the following markets does a firm not exercise control over price?
Question : In which market firm, a market or an industry is dominated by a single seller?
Question : In which market form a market or an industry is dominated by a few firms?
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 : 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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