In order to maximize their political benefits, legislators need only pay attention to the special interests in favor of a particular program

Assume that a seller in a perfectly competitive market charges more than the equilibrium price. It is likely that this seller will:

A) increase his sales. B) lose only a few buyers. C) increase his profit. D) lose almost all of his buyers.

In a planned economy,

a. prices are used to coordinate economic activity. b. central planners set production targets and tell producers how to produce. c. high prices discourage use of the most scarce resources. d. central planners allow the price to determine distribution of a product.