micro

a firm under perfect competition is a

• price taker

• price maker

• price leader

• none of these

a firm under perfect competition can sell___________ amount of its output at the prevailing price

• limited

• any

• controlled

• none of these

in case of perfect competition

• a firm is able to charge higher price

• a firm is able to charge uniform price

• a firm is able to sell any amount at the prevailing price

• both ( b) and (c)

if the demand curve of a firm is a horizontal straight line

• a firm can sell any amount at the existing price

• a firm can sell only a specified amount at the existing price

• all firms will sell equal amount of a commodity

• firms can differentiate their product

under perfect competition, a firm can earn

• normal profits in the long run

• super normal profits in the long run

• sub-normal profits in the long run

• all of these

in the context of perfect competition, which one of the following statements is not context

• firms full control over the price

• horizontal straight line demand curve of the firm

• freedom of entry and exit

• selling costs do not exist

a firm's demand curve under perfect competition is

• perfectly elastic

• perfectly inelastic

• elastic

• inelastic

under the perfect competition, price is determined by _____________

demand curve of a firm under perfect competition shows ___________ elasticity of demand

perfect competition allows _________mobility