________ countries have explicit requirements about the number of parties that can participate in an election.
A. Most
B. None
C. All
D. Few
Answer: D
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According to the text, a government policy of promoting competition must
A) assure small businesses they won't fail because of below-cost pricing or other predatory practices by larger businesses. B) assure small businesses they won't fail under any circumstances. C) equate profit margins among competing suppliers. D) maintain a process rather than some state of affairs. E) work toward making sellers' demand curves completely elastic.
If an industry's long-run supply curve slopes downward, then the industry is
A) a fixed-cost industry. B) a constant-cost industry. C) an increasing-cost industry. D) a decreasing-cost industry.
In a free market for rental housing, the average rental rate
a. includes a large amount of economic rent. b. includes zero economic rent. c. is entirely economic rent, since rental housing is fixed in supply. d. is about 10 percent economic rent.
Perfectly competitive firms are called price takers because they have ______ control over prices.
a. no b. some c. considerable d. complete