Theory of Demand
Quick practice
Question 1 of 5
Assertion (A): In perfect competition market structure, there are large numbers of buyers and sellers and there is perfect knowledge about the market among them.
Reasoning (R): In perfect competition, there is no advertisement cost involved that has to be borne by sellers.
A
(A) is incorrect but (R) is correct
B
(A) and (R) is correct but (R) is not the correct explanation of (A)
C
(A) and (R) is correct and (R) is correct explanation of (A)
D
(A) is correct but (R) is incorrect
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