Assume that a seller in a perfectly competitive market charges more than the equilibrium price. It is likely that this seller will:
A) increase his sales. B) lose only a few buyers.
C) increase his profit. D) lose almost all of his buyers.
Question 2
Fiscal policy is defined as
A) the discretionary changing of government expenditures and/or taxes to achieve national economic goals.
B) the design of a tax system to transfer income from the rich to the poor.
C) the use of the taxing power of the government to redistribute wealth in a socially acceptable manner.
D) the use of Congressional power to pursue social and political goals.
Non-competitive inhibition
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