A perfect competitor will operate at peak efficiency only in the ___________.

Trade barriers are politically popular because

A) they are a way to avoid trade wars and still protect domestic producers. B) people recognize their use as a negotiating tool in international relations. C) their benefits are widespread, while their costs are highly concentrated. D) their benefits are concentrated, while their costs are widespread.

A solid and defensible jury award that punishes negligent behavior can be good for the economy primarily because it

A. compensates the injured party for all damages. B. takes from the rich and gives to the poor. C. reassures the public that the legal system is 'fair'. D. discourages imprudent or reckless behavior.