Question
Under perfect competition, the firm's demand curve is
typically perfectly elastic. However, under certain conditions, it may become negatively sloped. What is the most plausible reason for this change?Solution
Under perfect competition, a firm's demand curve is perfectly elastic. However, if the market structure shifts towards monopolistic competition, the firm's demand curve may become negatively sloped. This is because in monopolistic competition, firms differentiate their products, giving them some market power and allowing them to face a downward-sloping demand curve.
What is the objective of the new MSME policy launched by Telangana?
The Quad, an informal strategic forum comprising the United States, India, Japan, and Australia, has increasingly focused on the Indo-Pacific region. Wh...
Which entity did the Union Cabinet approve for an 88km national highspeed corridor project between Agra and Gwalior?
Who was Buddhadeb Bhattacharya, and what was his significance in the political history of West Bengal?
Which of the following has become the first public sector bank to go live on Income Tax Department’s new Direct Tax Collection System Tin 2.0?
Which two Indian states will be connected by India's first bullet train?
The wholesale price index - ( WPI -) based inflation rate for September decelerated to an 18 - month low of _______ .
Which of the following places of INDIA has largest COAL reserves?
Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY)aimed at providing each person who is covered under the National Food Security Act 2013 with an additiona...
How much of India's power is currently sourced from coal?
