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Topic Perfect competition
Asked 2 times in CDS over 4 years (2020–2024), peaking in 2020.
Key insights
- Most tested in CDS — 2 of 2 PYQs
- Most asked in 2020
- Recurs across 2 years (2020–2024)
Across exams
CDS · 2How the concept evolved
Rising — more than half its appearances (2 of 2) are since 2016.
Related concepts
Ideas UPSC tests alongside this one — keep exploring.
Sample questions
You've seen the pattern — here are a few of the actual PYQs.
CDS2024
Which one of the following statements for a firm's equilibrium in Perfect Competition is not correct ?
- A The market price must be greater or equal to average variable cost in the short run.
- B The market price must be equal to marginal cost.
- C The market price must be equal to average cost in the long run.
- D The marginal cost decreases at the equilibrium output. ✓
✓ Correct answer: (D)
Economy › Macroeconomics
CDS2020
A market, in which there are a large number of firms, homogeneous product, infinite elasticity of demand for an individual firm and no control over price by firms, is termed as
- A oligopoly
- B imperfect competition
- C monopolistic competition
- D perfect competition ✓
✓ Correct answer: (D)
Economy › Macroeconomics
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