CUET Economics - In perfectly competitive market, the demand curve of a firm is? | PYQs + Solutions

CUET Economics 2025 21 May Shift 1

Micro

Easy

Perfectly inelastic.

Unit elastic.

More than unit elastric.

Perfectly elastic.

✅ Correct Option: 4

Related questions:

14 May Shift 1

Arrange the following statements related to negative externalities in correct sequence

(A) There is an oil refinery which refines crude petroleum and sells it in the market

(B) Pollution harms well-being and also kills fish or other organisms

(D) Such harmful effects that the refinery is inflicting on others, for which it will not bear any cost, are called externalities

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:

3 June Shift 2

Arrange the given statements in chronological order stating the implications of free entry and exit assumptions in a equilibrium market.

(A) Supply curve shifts rightward, however demand remains unchanged.

(B) At the prevailing market price, each firm is earning a supernormal profit and will attract some new firms.

(D) All firms in the market are earning normal profit, no more firms will have incentive to enter.

Choose the correct answer from the options given below:

CUET Economics 2025 21 May Shift 1 PYQs