Consider the Following Statements When Answering This Question: I

question 59

Multiple Choice

Consider the following statements when answering this question: I. When a competitive industry's supply curve is perfectly elastic, then the sole beneficiaries of a reduction in input prices are consumers.
II) Even in competitive markets firms have no incentives to control costs, as they can always pass on cost increases to consumers.

• A) I and II are true.
• B) I is true, and II is false.
• C) I is false, and II is true.
• D) I and II are false.

Understand the role and significance of cryptocurrencies in modern economies.

Understand different types of specialization in production and their effects on economic efficiency.

Analyze factors leading to economic instability, using Venezuela as a case study.

Assess the consequences of government interventions in markets, such as subsidized insurance.

---

Definitions:

Panic Attack

A sudden onset of intense fear or discomfort, accompanied by physical and psychological symptoms, often occurring without an obvious cause.

Ketchup Dispenser

A device or container designed for storing and dispensing ketchup.

Referential Delusion

A type of delusion where the individual believes that ordinary, unrelated events or occurrences are specifically related to them in a significant way.

Grandiose Delusion

A false belief of one's own superiority, uniqueness, or talent that is not grounded in reality, often found in psychiatric conditions like bipolar disorder or schizophrenia.