Question:
Which of the following determine the price under perfect competition?
Which of the following determine the price under perfect competition?
Show Hint
In perfect competition, firms are price takers and cannot influence the market price.
Updated On: Nov 5, 2025
- Representative firm
- General firm
- Industry
- Government
Hide Solution
Verified By Collegedunia
The Correct Option is C
Solution and Explanation
Under perfect competition, the price is determined by the industry supply and demand curves, not by any individual firm.
Was this answer helpful?
0
0
Top Questions on Microeconomics
- Which of the following are the features of perfect competition?
- CUET (PG) - 2025
- Commerce
- Microeconomics
- Which of the following terms is used in economics parlance to describe a person who receives the benefits of a good but avoids paying for it?
- CUET (PG) - 2025
- Commerce
- Microeconomics
- Which of the following statements is incorrect?
- CUET (PG) - 2025
- Commerce
- Microeconomics
- What is economic activity?
- Bihar Board XII - 2025
- Economics
- Microeconomics
- Explain the importance of the study of Microeconomics.
- Bihar Board XII - 2025
- Economics
- Microeconomics
View More Questions
Questions Asked in UP Board XII exam
- Answer the following questions in about 40 words each:
(b) What did Roosevelt say about fear in the lesson 'Deep Water'?- UP Board XII - 2025
- Literature
- The antonym of 'ancient' is
- UP Board XII - 2025
- Antonyms
- Change any one of the following into indirect speech:
(i) She said, "Brother, I shall give you my watch."- UP Board XII - 2025
- Direct And Indirect Speech
- If the sequence of one strand of DNA is written as follows: 5' - ATGC ATGC ATGC ATGC ATGC - 3', write down the sequence of the complementary strand in 3' → 5' direction.
- UP Board XII - 2025
- Genetics
- Write a note on Intra-Uterine Devices (IUD’s) and their applications.
- UP Board XII - 2025
- Reproductive Biology
View More Questions