________ occurs when no single firm is large enough to influence prices and distort the workings of the free-market system
A) Pure monopoly
B) Pure entrepreneurialism
C) Pure competition
D) Regulated monopoly
E) Stabilized monopoly
Answer: C
Explanation: Pure competition is a situation in which no single firm is large enough to influence prices and distort the workings of the free-market system.
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Elite Services, Inc. pays $1,350,000 to acquire 38% of voting stock of Grey Investments, Inc. on March 5, 2017. Which of the following is the correct journal entry for the transaction?
A) Long-term Investments-Grey Investments, Inc. 1,350,000 Cash 1,350,000 B) Long-term Investments-Available-for-Sale 1,350,000 Cash 1,350,000 C) Cash 1,350,000 Long-term Investments-Available-for-Sale 1,350,000 D) Cash 1,350,000 Long-term Investments-Grey Investments, Inc. 1,350,000
Official immunity gives public officials ________ immunity for the performance of
________ acts. a. absolute; ministerial b. qualified; ministerial c. absolute; discretionary d. qualified; discretionary