The Allocative Function of Price Cannot Operate Unless There Is

question 18

Multiple Choice

The allocative function of price cannot operate unless there is:

• A)a significant barrier to entry.
• B)both free entry and free exit.
• C)either free entry or free exit.
• D)neither free entry no free exit.

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Definitions:

Tips

Gratuity given to service workers in addition to the basic price for the service provided.

Conjunctive Adverbs

Words that help connect two clauses or sentences, providing a transition that indicates relation or sequence.

Conjunctions

Conjunctions are words that join together sentences, clauses, phrases, or words, serving as connectors in a sentence to improve flow and coherence.

Punctuated Correctly

Referring to text that has been marked with the correct use of punctuation marks according to the rules of grammar.