Under Laissez-Faire, Output Selection Is Determined by

question 43

Multiple Choice

Under laissez-faire, output selection is determined by

• A)consumer preferences.
• B)production costs.
• C)firms' desires to make profits.
• D)All of the responses are correct.

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Definitions:

Carbon Dioxide

A colorless, odorless gas produced by burning carbon and organic compounds and by respiration, also a greenhouse gas in the Earth's atmosphere.

Stick Welding

A manual welding technique using a fixed-length electrode and electric current to join metal parts.

Electric Arc

A visible plasma discharge caused by electrical current passing through air, used in welding and other industrial processes.

Oxyacetylene Torch

A tool that mixes oxygen and acetylene gases to create a high-temperature flame for welding or cutting.