In Competitive Markets

question 12

Multiple Choice

In competitive markets:

• A) high-wage workers tend to be those that are most productive.
• B) companies earn excess profits by better serving customer needs.
• C) fairness is sacrificed in the interest of efficiency.
• D) firms dictate the quantity and quality of goods and services provided.

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Definitions:

Exacerbation

A worsening or increase in severity of symptoms or disease, often after a period of improvement.

Remission

A decrease or disappearance of symptoms of a disease, often used in the context of chronic or persistent diseases.

Proliferation

the rapid increase or multiplication of cells or organisms.

Leiomyosarcoma

A rare type of cancer that develops from smooth muscle tissue, often found in the uterus, stomach, or small intestine.