CUET Economics - In the context of perfect competition, which one of the following is not correct? | PYQs + Solutions

CUET Economics 2025 3 June Shift 1

Micro

Medium

Firm has full control over price.

Horizontal straight line demand curve of the firm.

Freedom of entry and exit.

Selling costs do not exist.

✅ Correct Option: 1

Related questions:

2 June Shift 1

Match List-I with List-II

List-I	List-II
(A) Perfect Competition	(I) A typical characteristic of perfect competition.
(B) Perfectly elastic demand curve	(II) An individual firm is a price taker.
(C) Degree of price control under perfect competition	(III) The firm can sell any amount of its output at the prevailing price.
(D) Freedom of entry and exit	(IV) No control over price.

Choose the correct answer from the options given below:

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Price ceiling is one concept which provides safeguard to______

2 June Shift 1

What is the shape of Average Revenue (AR) curve under perfect competition?

CUET Economics 2025 3 June Shift 1 PYQs