1. What is not a portion of efciency within a free competitive market? A. Commodities are distributed among buyers so as to receive the most: satisfying B. Finns are encouraged to maximize e'rcient technologies for production of a commodity C. Firms are motivated to invest resources in industries that are speculative in nature D. Firms are encouraged to minimize the resources consumed in producing a commodity E. Firms are encouraged to move away from industries with low consumer demand 2. What is not a portion of the perfectly free competitive market? A. All buyers and sellers can immediately enter the market B. Goods sold in the market are so similar in quality no one cares 'om whom they purchase C. Some buyers and sellers are utility maximizers D. No external entity regulates the price of goods E. A number of buyers and sellers none of whom has a substantial share 3. Within the market (free or otherwise) what does a 'briber' become? A. Monopoly buyer B. Oligopoly seller C. Utility seller D. Commodity trader E. Monopoly seller 4. What is not a public policy reaction to the oligopoly within the market? A. Allow the 'countervailing powers' even out the market B. Establish regulatory agencies and legislation to control larger corporations C. Government takeover only where public ownership guarantees public interest protection D. Consolidate larger corporations so as to mitigate damage to the market as a whole E. Economies of scale lower prices and better the market for consumers