Practicing Success
Practicing Success
CUET Preparation Today
| Suppose there is a village located far-away. There is only one well in the village and villagers are dependent on this well for fulfillment of their water requirements. This well is owned by an individual and villagers will have to purchase the water from him. In order to purchase the water, the customer will have to withdraw the water by themselves from the well. |
| Under perfect competition, the equilibrium quantity will be ________ as compared to that in monopoly. |
Less Equal More Either greater or lesser |
| More |
| The perfectly competitive market provides a production and sale of a larger quantity of the commodity compared to a monopoly firm. |
