A competitive price-searcher market is characterized by firms
a. being able to choose their price and by low barriers preventing firms from entering or leaving the market.
b. being able to choose their price and by high barriers preventing firms from entering or leaving the market.
c. having to accept the market price for their product and by high barriers preventing firms from entering or leaving the market.
d. having to accept the market price for their product and by low barriers preventing firms from entering or leaving the market.
A
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A dilemma of regulation is that:
A. the regulated price that achieves allocative efficiency is also likely to result in persistent economic profits. B. the regulated price that results in a "fair return" restricts output by more than would unregulated monopoly. C. regulated pricing always conflicts with the "due process" provision of the Constitution. D. the regulated price that achieves allocative efficiency is also likely to result in losses.
China is a clear example of a country that has:
A. achieved economic growth without a democratic regime. B. achieved economic growth only after a democratic regime was in place. C. failed to achieve economic growth without a democratic regime. D. failed to achieve economic growth, despite having a democratic regime.