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Which of the following are true for perfect competition?
1. Very large number of buyers and sellers
2. Restriction on entry and exit of firms
3. Perfectly elastic demand
Select the correct answer

Which of the following are true for perfect competition?
1. Very large number of buyers and sellers
2. Restriction on entry and exit of firms
3. Perfectly elastic demand
Select the correct answer Correct Answer Both 1 and 3

Related Questions

For perfect competition, indicate the correct answer for essential conditions from the following.
1. Large number of buyers and sellers
2. Perfect knowledge of the market
3. Homogeneous product for sale
4. Absence of transportation cost
5. Freedom of entry and exit of buyers and sellers from the market
6. Rational Behaviour of buyers and sellers
Consider the following statements for the perfect market. Which of the following statement(s) is/are correct?
1. All the buyers and sellers have freedom to make entry or exit at any time in the market.
2. There are a large number of small undifferentiated buyers.
3. A single price prevail in the market.
Consider the following characteristics with respect to the market forms: I. Free Entry and Exit of firms  II. Perfect mobility of factors of production  III. A very large number of buyers and sellers  Which among the following markets will define all the above?
Which of the following are the features of pure competition?
1. Large number of buyers and sellers
2. Freedom of entry and exit
3. Perfect homgeneity
4. Mobility of resources
Select the correct answer
Which List and Entry of Seventh Schedule of Indian Constitution are related to the election of the legislature of the State? 1. List - I, Entry 72  2. List - II, Entry 27 3. List - II, Entry 37 4. List - III, Entry 32 Select the correct answer using the codes given below.
India's first gas exchange, the Indian Gas Exchange (IGX), was launched as a wholly owned subsidiary of Indian Energy Exchange. Which of the following statements are correct? 1. It is a digital trading platform that will allow buyers and sellers to trade both in the spot market and in the forward market for imported natural gas. 2. It will allow trade across three hubs - Dahej and Hazira in Gujarat and Kakinada in Andhra Pradesh. 3. Imported Liquified Natural Gas (LNG) will be regassified and sold to buyers through the exchange, removing the requirement for buyers and sellers to find each other. 4. Only inter-governmental trade in domestically produced natural gas is allowed at the gas exchange. Select the correct answer using the code given below:
In the question below, a statement is given, followed by three courses of actions numbered I, II and III. On the basis of the information given, you have to assume everything in the statement to be true, and then decide which of the suggested course of action logically follow (s) for pursuing. Statement: Led by a strong response to its first super sports utility vehicle Urus, Italian sports car maker Lamborghini is likely to more than double its volumes in India by the end of 2019, a year ahead of its plan, and cross the milestone of 50-60 vehicles per annum. The company, which began deliveries for Urus in India in September, said the vehicle is already booked for the coming six-nine months in India much like the global markets, and it will help Lamborghini get new. customers into its fold. Courses of action: I. The company is planning not to increase the price of its vehicle despite significant rupee depreciation and wants to protect the attractive price of Urus for prospective buyers.  II. The super sports utility vehicle will drive volumes, super sports cars such as Huracan and Aventador will grow by 8-10%. The company feels an 8-10% growth in the segment is a realistic expectation in spite of the challenges.  III. More than 68% of Urus buyers are first-time Lamborghini buyers and makers are sure that this will have a positive rub-off effect on the super sports car segment too.
Which of the following are the important features of option contracts?
1. Buyers of option have limited liability.
2. Options have high degree of risk to option writers.
3. Options are exercisable only by buyers of option.
4. Buyers of option have all rights which are available to equity shareholders of the concerned companies.
Consider the following two-process synchronization solution. Process 0 - - - - - - - - Entry: loop while (turn == 1);  (critical section) Exit: turn = 1; Process 1 - - - - - - - - Entry: loop while (turn == 0);  (critical section) Exit: turn = 0;   The shared variable turn is initialized to zero. Which one of the following is TRUE?
In the following question, a group of inter related words is given. Choose a word from the given alternatives, which is similar to the given words and hence belongs to the same group. If start is called stop, stop is called exit, exit is called entry, entry is called position, and position is called danger then which of the following is synonym for arrival?