In a competitive market ………. is the price maker

Related MCQs

• In the short run if the price is above the average total cost in a monopolistic competitive market, the firm makes
• In a competitive market ……………….. is the price taker
• In a perfect competitive market price determines –
• The market state that satisfy all the essential features of a perfect competitive market except identity of product is known as
• If the price elasticity of demand for wine is estimated to be -.6, then a 20% increase in price of wine will lead to ………………….in quantity demanded of wine at that price
• If the price elasticity of demand of Chicken is +.95. then a 20% increase in price of chicken will lead to in quantity demanded of chicken at that price
• Tea and Coffee are perfect substitute of each other, given the price of Tea and Coffee being `100 and `200 per Kg. a consumer is prepared to buy 3 Kg. of each. If the price of tea remain same and the price of Coffee rises to `400 per kg. the demand for Tea goes to 6 Kg. and that of Coffee falls to 1Kg. The elasticity of substitution between Tea and Coffee is
• What will happen to the equilibrium price and quantity of peanut butter if peanuts increase in price and the price of jelly decreases?
• Which of the following is correct for the price ceiling which is set below the market‟s equilibrium price?
• If there are 5000 customers for the product, the aggregate market demand for the product at market price `2 in the question No. 269 will be ………….