CUET Economics - Which of the following are features of a perfect competitive market? (A) Free entry and exit of firms. (B) Huge selling cost. (C) perfectly elastic demand curve. (D) perfect market knowledge among buyers. Choose the correct answer from the options given below: | PYQs + Solutions

CUET Economics 2025 30 May Shift 1

Micro

Medium

(A), (B) and (D) only

(B), (C) and (D) only

(A), (C) and (D) only

(A), (B), (C) and (D)

✅ Correct Option: 3

Related questions:

29 May Shift 1

Arrange the following steps of Market Equilibrium under perfect competition in the correct order.

(A) Excess of market demand over market supply will cause excess demand situation.

(B) Quantity demanded will fall and quantity supplied will rise.

(C) The market will move towards the point where the quantity that the firm wants to sell is equal to the quantity that the consumer wants to buy.

(D) The market price would tend to increase, due to competition among buyers.

Choose the correct answer from the options given below:

21 May Shift 1

The market determined price of a good is Rs. 40.The government fixes the minimum price of the good as Rs. 50. Calculate the excess demand/excess supply it will cause if the demand and supply functions are Qd = 200 – p and Qs = 120 + p respectively.

22 May Shift 1

Arrange a statement of market equilibrium when the demand curve shifts leftward:

(A). The shift indicates that at any price the quantity demanded is less than before.

(B). Some firms will reduce the price of their commodity so that they can sell their desired quantity.

(C). Excess supply will arise.

(D). At the new equilibrium, quantity and price will be less than before.

Choose the correct answer from the options given below:

CUET Economics 2025 30 May Shift 1 PYQs

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