Question

Identify which of the statement is FALSE.

a)Demand curve of monopoly is more elastic than monopolistic competition
b)Market equilibrium is a situation when demand and supply are equal to each other.
c)A monopolist has perfect control on supply.
d)There is free entry and exit in a perfect competitive market.

Answer 1

a) True

b) False

c) True

d) True

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Answer 2

a) True✔️

b) False❌

c) True ✔️

d) True✔️