Which of the following is a possible advantage of a free market condition?
a. In a free market, consumers are offered discounts on the purchase of products
b. In a free market, all goods and services are offered for free to households below the poverty line.
c. In a free market, continuous government intervention helps keep the price of products under control.
d. In a free market, competition among sellers helps the consumers purchase a product at the lowest possible price.
e. In a free market, consumers have limited products to choose from, thereby assuring less confusion and better quality.
d
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During the 20th century, U.S. death rates
(a) exhibited the same cyclical waves as birth rates. (b) fell with advancements in healthcare and medicine. (c) exhibited an upward trend. (d) generally stayed flat.
Firms tend to lower the price of their goods after acquiring a firm that sells a complementary good because
a. They gain market power b. There is an increase in the overall demand for their products c. The bundle has a more elastic demand than individual goods d. The bundle has a more inelastic demand than individual goods