Individual firm has no control on the price of the commodity in the market is a condition of

Related MCQs

• Individual firm has no control on the price of the commodity in the market is a condition of
• Under perfect market conditions the individual firm in the industry has control over the price of the product.
• Under perfect market conditions the individual firm in the industry has ------------------- control over the price of the product.
• Given the supply of a commodity in the market period, the price of the commodity is determined by
• Given the supply of a commodity, in the market period, the price of a commodity is determined by
• The large number of firms producing the same commodity ensure that the individual firm has no control over
• The large number of firms producing the same commodity ensure that the individual firm has no control over
• Suppose a competitive firm produces 100 units of X for a price of Rs.10 a unit. The firm is employing labour and capital such that the marginal physical product of labour and capital is 20 and 5 and the prices paid to labour and capital are Rs. 60 and Rs. 40 respectively. How would you characterize the firm
• Price is constant or "given" to the individual firm selling in a purely competitive market because:
• If the market demand curve for a commodity has a negative slope then the market structure must be