Civil Engineering MCQs

2965 MCQs  (Page 228 of 297)

Aside from many sellers and many buyers, which one is a characteristic of perfect competition ?
A. Homogeneous product
B. Free market entry and exit
C. Perfect information and absence of all economic friction
D. All of the above
What is the opposite of perfect competition ?
A. Monopsony
B. Oligopoly
C. Oligopsony
D. Monopoly
Duopoly is a market situation where there is/are____________?
A. Few sellers and few buyers
B. Few sellers and many buyers
C. Many sellers and few buyers
D. One seller and few buyers