1. What is the removal of some government controls over a market called?
a merger
deregulation
predatory pricing
a trust

2. What happens to a monopolistically competitive firm that begins to charge an excessive price for its product?
The government will regulate the price.
The firm will go out of business.
Consumers will substitute with a rival’s product.
Consumers will boycott the product.

3. A government-issued right to operate a business is a _____.
license
franchise
patent
natural monopoly

4. What is one reason that individual pr

Question

1.  What is the removal of some government controls over a market called? 
   a merger 
 deregulation 
 predatory pricing 
 a trust 
 
2.  What happens to a monopolistically competitive firm that begins to charge an excessive price for its product? 
   The government will regulate the price. 
 The firm will go out of business. 
 Consumers will substitute with a rival’s product. 
 Consumers will boycott the product. 
 
3.  A government-issued right to operate a business is a _____. 
   license 
 franchise 
 patent 
 natural monopoly 
 
4.  What is one reason that individual pr

anonymous · Answer

2.a