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Question Practice

In a perfectly competitive market, what determines the supply of a firm?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Economics
Introductory Microeconomics
The Theory Of The Firm Under P...
Question Bank

In a perfectly competitive mar...

Single Answer MCQ
Q-00089547

In a perfectly competitive market, what determines the supply of a firm?

1

The demand from consumers

2

The elasticity of demand for the product

3

The marginal cost of production

4

The level of competition in the market

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Which of the following is NOT a characteristic of perfect competition?

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Q3.

In a perfectly competitive market, what is the behavior of consumers?

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Q4.

What ensures that firms in perfect competition produce identical products?

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