Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Non Competitive markets

Question:
Which of the following are true-
a) In perfect competition and monopolistic competition, there are large number of buyers and sellers.
b) In monopoly and oligopoly, firms have the power to influence demand and hence price.
Options:
Both a and b are true
a is true, b is not
b is true, a is not
Both a and b are false
Correct Answer:
Both a and b are true