What is the correct answer?


Conditions of perfect competition ensure:

A. That each firm can influence the price

B. No single firm can influence the price

C. Any single firm can influence the supply condition in the market

D. Any single firm can influence both supply and price in the market

Correct Answer :

B. No single firm can influence the price

Related Questions

Price is measured in: If a monopolist is producing under decreasing cost conditions, increase… From analysis, it is clear that both Marshal and Walras market models… In dominant strategies I am doing the best, I can no matter: Capital and Development Planning is the work of: The Strategy of Economic Development is the work of: Change in quantity demanded (expansion and contraction of demand) is: Profits of a firm will be calculated taking into account the units produced… We can obtain consumers demand curve from: If the factors have to be employed in a fixed ratio, then the elasticity… Moving along the indifference curve leaves the consumer: In perfect competition, the slope of the total revenue curve of a firm… If two goods are complements then indifference curve (IC) will be: The firms in non-cooperative games: An increase in the supply of a commodity is caused by: Price discrimination is possible: The main contribution of Prof.Robbins is in the field of: The slope of budget line shows the price ratios of: Human wants are: The elasticity of substitution measures the percentage change in the ratio… The game theory takes into consideration: The concept of product differentiation was firstly introduced by: The main contribution of Alfred Marshal is in the field of: A demand schedule is shown as: An income demand curve of an inferior good is: Who is the founder of classical school of thought? If production increases under constant returns to scale, the cost will: With which of the following concepts is the name of J.M.Keynes particularly… If the consumers expect that the price of computers will decrease in next… To attain maximum profits during short-run a firm should produce the output…