Perfect competition assumes:

A. All buyers and sellers have perfect knowledge of the market

B. Freedom of entry of firms into the industry

C. Homogeneous product

D. All of the above

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. The law of demand is most directly a result of:
  2. The Strategy of Economic Development is the work of:
  3. In the immediate run:
  4. The giffen paradox is an exception to law of:
  5. The imaginary differentiation is attributed to difference in:
  6. The law of Diminishing Marginal Utility implies that the marginal utility of a good decreases as:
  7. The Substitution Effect (S.E) is always:
  8. Price is measured in:
  9. The largest possible loss that a firm will make in the short run is:
  10. After reaching the saturation point consumption of additional units of the commodity cause:
  11. MRSxy measures:
  12. A monopolist:
  13. When income of the consumer increases then demand curve of an inferior good:
  14. The firm in cournot model:
  15. A firm can never produce in the middle area of input space, in case of:
  16. In non-collusive oligopoly firms enter into:
  17. Diseconomies of management lead to:
  18. Labor Saving Technological Progress can be defined as:
  19. The marginal revenues are derivatives of:
  20. If the price of a product falls then quantity demanded tends to increase ceteris paribus because:
  21. The expansion point is attained by joining:
  22. Which of the following goods is most likely to be exchanged in a market of local rather than national…
  23. Quantity demanded or supplied is measured in:
  24. When a consumer reached at the point of saturation then marginal utility (MU) is:
  25. In case of monopoly, TR curve rises at a:
  26. The study of economics just in theoretical way is called:
  27. A budget line shows:
  28. Engel curves shows that:
  29. The main contribution of David Ricardo is in the field of:
  30. Each firm in cournot model starts selling: