Which of the following is an example of a market that meets all four conditions for perfect competition?

Demand for movie rentals is highly elastic. A video store that raises the price of a rental will:

a) lose revenue b) gain revenue c) possibly gain or lose revenue d) see no change in revenue

In an ideal organization, when do agents always make decisions in the best interests of their principle?

a. The decision makers have the information necessary to make the decision b. The decision makers have the incentive to make the right decision c. All of the above d. None of the above