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• Statement 1 is correct as firms in a perfectly competitive market sell identical products. • Statement 2 is incorrect because firms in perfect competition are price takers and do not have control over the market price. • Statement 3 is correct because in perfect competition, there are no barriers to entry or exit, allowing firms to freely enter or leave the market. • Statement 4 is correct because in the long run, firms in perfect competition earn normal profits, as the entry of new firms drives economic profits to zero.
What does a more elastic curve signify in terms of price and quantity consumed?
The National Botanical Research Institute is located in:
Which physiological disorder may occur when the reproductive parts of the rose flower are absent or aborted?
Which of the following examples represents a positive association?
Name the branch of agricultural science deals with principles, & practices of soil, water & crop management.
Under Food safety and Standards Act import of which of the following products is prohibited
Cholesterol oxidase (CO) protein present in Streptomyces showed acute toxicity to
Which of the following statements accurately describe biofortification?
A. Biofortification primarily focuses on enhancing nutrient levels in ...
Which of the following is a viviparous insect?
Tillage is mechanical manipulation of soil. Which type of tillage system left less than 15% of crop residue on soil surface?