The trading of votes to secure favorable outcomes on decisions which would otherwise be defeated is called:

Which of the following inputs are variable in the long run?

A) labor. B) capital and equipment. C) plant size. D) all of these.

Which of following is a key assumption of a perfectly competitive market?

A) Firms can influence market price. B) Commodities have few sellers. C) It is difficult for new sellers to enter the market. D) Each seller has a very small share of the market. E) none of the above