Increased Options Available to Shoppers Combine to Create a Market

question 118

Multiple Choice

Increased options available to shoppers combine to create a market characterized by _____ elasticity.

• A)supply
• B)linear
• C)demand
• D)constant

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Definitions:

Jurisprudence

The theory or philosophy of law; a body of laws or legal principles derived from judicial decisions and legal writings.

Sherman Antitrust Act

A landmark federal statute in the United States passed in 1890 to prevent anti-competitive practices, monopoly, and to promote competition.

Federal Legislation

Laws passed by the federal government of a country, which apply to the entire nation and supersede local laws in areas of federal authority.

Restraint of Trade

A legal concept that seeks to enforce reasonable limitations on business practices to encourage competition and prevent monopolies.