Perfect competition 1
12th Grade
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Perfect competition 1
Quiz
•
Arts
•
12th Grade
•
Practice Problem
•
Medium
nirvair nanda
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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Perfect competition
Less buyers
Less seller
Large buyers and sellers
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Perfect competition
Products
Different
Homogenous
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Perfect competition
Price
Not defined
Different price
Uniform price
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Perfect competition
Firm earn in long run
Abnormal loss
Abnormal profit
Normal profit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Perfect competition
New firm
Can not enter
Free entry
Strong barriets
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In perfect competition
If existing firm earning abnormal profit
Supply decrease
Supply increase
Price increases
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In perfect competition
Existing firm incurring abnormal loss
Prices decrease
Price increases
No change in price
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