EASY
CA Foundation
IMPORTANT
Earn 100

An industry in economic terminology consists of a _____ number of _____ firms.

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Important Questions on Meaning and Types of Markets

MEDIUM
CA Foundation
IMPORTANT
Business Economics & Business and Commercial Knowledge>Chapter 4 - Meaning and Types of Markets>Perfect Competition>Q 108
In case of Perfect Competition, the industry is in equilibrium, when _____.
EASY
CA Foundation
IMPORTANT
Business Economics & Business and Commercial Knowledge>Chapter 4 - Meaning and Types of Markets>Perfect Competition>Q 109
Price under perfect competition is determined by the _____.
EASY
CA Foundation
IMPORTANT
Business Economics & Business and Commercial Knowledge>Chapter 4 - Meaning and Types of Markets>Perfect Competition>Q 110
Equilibrium price for an industry in perfect competition is fixed through.
EASY
CA Foundation
IMPORTANT
Business Economics & Business and Commercial Knowledge>Chapter 4 - Meaning and Types of Markets>Perfect Competition>Q 111
Who sets the price of the product under perfect competition?
EASY
CA Foundation
IMPORTANT
Business Economics & Business and Commercial Knowledge>Chapter 4 - Meaning and Types of Markets>Perfect Competition>Q 112
A firm is said to be in equilibrium when _____.
MEDIUM
CA Foundation
IMPORTANT
Business Economics & Business and Commercial Knowledge>Chapter 4 - Meaning and Types of Markets>Perfect Competition>Q 113
What is the shape of the demand curve faced by a firm under perfect competition?
MEDIUM
CA Foundation
IMPORTANT
Business Economics & Business and Commercial Knowledge>Chapter 4 - Meaning and Types of Markets>Perfect Competition>Q 114
Which of the following is not a characteristic of a "price-taker"?
MEDIUM
CA Foundation
IMPORTANT
Business Economics & Business and Commercial Knowledge>Chapter 4 - Meaning and Types of Markets>Perfect Competition>Q 116
Average revenue curve is also known as: