MCQ
Choose the incorrect statement:In perfect competition
- AThere are large number of buyers and sellers
- BFree entry and exit of firm
- ✓Price competition is essential
- DIndependent price policy
Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.
| a) | Lignite | 1) | Madurai |
| b) | Magnesite | 2) | Yercaud |
| c) | Bauxaite | 3) | Salem |
| d) | Molybdenum | 4) | Neyveli |
| A) | Social cost | 1) | Retrospective cost |
| B) | Sunk cost | 2) | External cost |
| C) | Fixed cost | 3) | Alternative cost |
| D) | Opportunity cost | 4) | Overhead cost |