In a perfectly competitive market choose the correct statement from the following. (A) Equilibrium occurs where market demand equals market supply.…
CUET UG 2025 — Economics Micro
In a perfectly competitive market choose the correct statement from the following.
(A) Equilibrium occurs where market demand equals market supply.
(B) Each firm employs labour upto the point where the marginal revenue of labour equals the wage rate.
(C) Equilibrium price and quantity are determined when there is large number of firms.
(D) Equilibrium price is always equal to minimum average cost of the firms.
Choose the correct answer from the options given below:
Held on 29 May 2025 · Verified 13 Jul 2026.
Options
- A
(A), (B) and (D) only
- B
(A), (C) and (D) only
- C
(A), (B), (C) and (D)
- D
(B), (C) and (D) only
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