A firm that sells products in a market characterised by many sellers and buyers, differentiated products, and unlimited long-run resource mobility is

a monopolist

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an oligopolist

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perfect competitor

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monopolistic

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Solution

The correct option is D monopolistic
A firm that sells products in a market characterised by many sellers and buyers, differentiated products, and unlimited long-run resource mobility is a monopolistic comptetitor.

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Similar questions

If a firm sells its output on a market that is characterized by many sellers and buyers, a differentiated product, and unlimited long-run resource mobility, then the firm is ______

Q. Fill in the blanks with appropriate alternatives given in the brackets:

1. Under perfect competition commodities are ________________ in nature. (homogeneous/ classified/ heterogeneous/ supplementary)

2. _____________ appears in a monopoly market. (product differentiation/ price discrimination/ individual differentiation/ packing differentiation)

3. The price at which demand and supply equate to each other is called _______ price. (general/ equilibrium/ short-run/ reserve)

4. In ________ market, seller creates products differentiation. (competition/ perfect/ pure/ monopolistic competition)

5. Monopolist means __________ competitive. (single seller/ several seller/ single buyer/ several buyer)

Q. Give reasons or explain:

1. Single price prevails in perfect competition.

2. Price discrimination is possible under monopoly.

3. Selling cost is incurred by a firm in Monopolistic competition.

4. A monopolist can control the supply of goods.

5. Sellers and the buyers are price takers in perfect competition.

In which of the market situations, there are a large number of buyers and sellers selling identical products in the market?

Q. A firm under monopolistic competition in long run equilibrium is ____________.

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A firm that sells products in a market characterised by many sellers and buyers, differentiated products, and unlimited long-run resource mobility is

The correct option is D monopolisticA firm that sells products in a market characterised by many sellers and buyers, differentiated products, and unlimited long-run resource mobility is a monopolistic comptetitor.

The correct option is D monopolistic
A firm that sells products in a market characterised by many sellers and buyers, differentiated products, and unlimited long-run resource mobility is a monopolistic comptetitor.