The more firms are present in a market, the:
A. more competition is likely to be present.
B. less competition is likely to be present.
C. more like a monopoly it will behave.
D. more collusion is likely to occur.
A. more competition is likely to be present.
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When the TR and TC curves have the same slope,
A) they are the furthest from each other. B) they are closest to each other. C) they intersect each other. D) profit is negative. E) profit is zero.
If the moral hazard problem in automobile driving were to be eliminated, the marginal cost of driving would be
A) lowered enough to pull the amount of driving back down to the efficient level. B) lowered enough to raise the amount of driving back up to the efficient level. C) raised enough to pull the amount of driving back down to the efficient level. D) raised enough to raise the amount of driving back up to the efficient level. E) lowered back down to the efficient level, relieving the stress on market forces.