[Solved] Perfect competition means -

McqMate

Q.	Perfect competition means -
A.	large number of buyers and less sellers
B.	large number of buyers and sellers
C.	large number of sellers and less buyers
D.	None of these
Answer» B. large number of buyers and sellers
Explanation: The fundamental condition of perfect competition is that there must be a large number of sellers or firms. Homogeneous Commodity is the second fundamental condition of a perfect market.

2.6k

0

Do you find this helpful?

1

View all MCQs in

Discussion

No comments yet

Related MCQs

Demand curve of a firm under perfect competition is :
Under perfect competition, the industry does not have any excess capacity because each firm produces at the minimum point on its -
The equilibrium of a firm under perfect competition will be determined when -
One of the essential conditions of perfect competition is :
The theory of monopolistic competition has been formulated in the United States of America by -
One of the essential conditions of Monopolistic competition is -
An association of producers to regulate prices by restricting output and competition is called
A market in which supply and demand are not subject to regulation other than normal competition policy is termed:
Buyers and Sellers will have perfect knowledge of market conditions under -
If a firm is operating at loss in the short- period in perfect combination, it should :