One of the Most Undemocratic Features of the U

question 52

Multiple Choice

One of the most undemocratic features of the U.S. political system is________.

• A) how representatives get re-elected
• B) the politicization of the Supreme Court
• C) how campaigns are financed
• D) the amount of time spent in jail by people who cannot afford bail

Understand the relationship between market structure, product variety, and consumer welfare.

Discuss the implications of free entry and exit in monopolistically competitive markets on economic profits.

Analyze how monopolistically competitive firms use advertising to influence demand elasticity and market power.

Examine the external effects of new entrants on existing firms and consumers in monopolistically competitive markets.

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Definitions:

Positive Externalities

External benefits.

Common Resource

A type of good that is non-excludable but rivalrous, meaning it is available to everyone but its consumption by one person can limit availability to others.

Property Rights

Legal rights to possess, use, and dispose of assets.

Political Engagement

The active participation of individuals in political activities or processes to influence public policy or decision-making.