________________: the practice of exchanging favors, especially in politics by reciprocal voting for each other's proposed legislation.

In the long run, each perfectly competitive firm produces at the lowest point on

a. its short-run average total cost curve b. its long-run average total cost curve c. its marginal cost curve d. both its short-run and long-run average total cost curves e. both its short-run average cost curve and its marginal cost curve

Labor unions

a. prefer to operate in states with right-to-work laws. b. are similar to cartels. c. play a larger role in the current U.S. economy than in European countries such as Norway and Sweden. d. attract a membership of about 25 percent of current U.S. workers.