Which of the Following Is a Function of the Competition

question 35

Multiple Choice

Which of the following is a function of the Competition and Markets Authority in the UK?

• A) Promoting cartels.
• B) Promoting monopoly.
• C) Encouraging large scale mergers to increase competition.
• D) Encouraging fair trade and competition.

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Definitions:

Labor Supply Curve

A graphical representation showing the relationship between the quantity of labor supplied and the wage rate, typically illustrating that higher wages attract a larger labor supply.

Technological Change

Refers to the process of innovation and improvement in technology which leads to new products, services, or more efficient ways of doing things.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing to purchase at that price.

Productivity

The efficiency with which input resources are converted into outputs, often measured as the amount of goods or services produced per unit of input.