CUET Economics - What are the key components of a perfectly competitive market? (A) Large number of buyers and sellers. (B) Homogeneous product. (C) Free Entry and exit. (D) Asymmetric Information. Choose the correct answer from the options given below: | PYQs + Solutions

CUET Economics 2025 13 May Shift 2

Micro

Medium

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

(A), (B) and (C) only

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

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

✅ Correct Option: 2

Related questions:

27 May Shift 2

Public goods, as distinct from private goods, are collectively consumed. Two important features of public goods are:

16 May Shift 1

Which of the following is NOT a condition for profit maximization of a perfectly competitive firm in the short run?

13 May Shift 1

With the shifting demand curve leftward, arrange the following statement in sequential order.

(A) At any given price, demand is less.

(B) Excess supply will be there.

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

Choose the correct answer from the options given below:

CUET Economics 2025 13 May Shift 2 PYQs