All of the Following Are Necessary Conditions for Pure Laissez

question 69

Multiple Choice

All of the following are necessary conditions for pure laissez faire except

• A) All producers must be perfectly competitive.
• B) Both buyers and sellers must have full information about products and prices.
• C) Firms do not have economies of scale.
• D) Some firms have market power.

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Definitions:

Promising Option

A potential solution or choice that shows substantial merit or advantage.

Reasonable Options

Choices or alternatives that are sensible and likely to bring about a desired outcome based on rational judgment.

Human Decision-Making

The cognitive process resulting in the selection of a belief or a course of action among several possible alternatives.

Promising Alternative

An option that shows potential to be effective or beneficial in comparison to others.