__________ means selling goods below their cost of production.

In the United States the assignment of tasks and distribution of benefits

A) is determined by business firms. B) is determined democratically. C) is negotiated among potential buyers and potential sellers. D) leaves all parties free to do as they prefer. E) rests upon the principle of consumer sovereignty.

Which of the following leads a good to have a high elasticity of supply? I. The good must be produced using unique resources. II. The good is produced using commonly available resources

A) I only B) II only C) I and II D) neither I nor II