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Which of the following is not characteristic of perfect competition?

A. Freedom of entry and exit

B. Each seller is a price taker

C. Perfect information about prices

D. Heterogeneous products

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

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  1. The elasticity of substitution measures the percentage change in the ratio of inputs when any producer…
  2. Under perfect competition, the average revenue, marginal revenue and price are shown:
  3. The number of sellers in duopoly is:
  4. On the total utility curve the economically relevant range is the portion over which:
  5. The Input-Output Analysis was originated by:
  6. The price consumption curve (PCC) for commodity X is the locus of points of consumer equilibrium resulting…
  7. When price decreases and with it the total outlay on a commodity also decreases, it is a case of:
  8. The isoquant approach is:
  9. Under monopolistic competition, the firms compete alongwith:
  10. Who wrote An Introduction to Positive Economics?
  11. If two households have identical preferences but different incomes then:
  12. All of the following curves are U-Shaped except:
  13. The equilibrium conditions, MC = MR = AR = AC, will happen:
  14. If a firm produces zero output in the short period then which statement is true?
  15. Which cost increases continuously with the increase in production?
  16. Which of the following is called Gossens first law?
  17. Revealed Preference Theory was presented by:
  18. The relationship between price effect, income effect and substitution effect is:
  19. Which is not a central problem of an economy?
  20. The number of sellers in oligopoly are:
  21. The total utility (TU) curve is:
  22. An exceptional demand curve is:
  23. Under Bandwagon effects, people use those goods which are used by their:
  24. Technological Progress (Invention) can be defined as:
  25. Marginal utility equals:
  26. The necessary condition of firms equilibrium requires:
  27. Who introduced the concept of Elasticity of Demand into economic theory?
  28. The water diamond paradox was firstly resolved with the help of:
  29. Demand of a commodity is elastic when:
  30. Which of the following pairs of commodities is an example of substitutes?