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Assumptions about Perfectly Competitive Markets

A seller cann...

Question

A seller cannot influence the market price under (Choose the correct alternative) :

A

Perfect competition

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B

Monopoly

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C

Monopolistic competition

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D

All of the above

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Solution

The correct option is A Perfect competition
A seller can not influence the market price under perfect competition. because there are many seller and many buyer,so a single seller can not influence the market price.

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Similar questions

Q. Under perfect competition, single seller can influence the price.

If an individual firm under perfect competition cannot influence the market price, then who can and how?

Q. A firm under monopolistic competition cannot influence market price.

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)

Under perfect competition, the seller is a price taker. Under monopoly, he is the price maker. Explain.

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