D Question 1 1 pts Competition is the great regulator." This statement reflects that O extensive regulation is needed to assure that businesses will treat consumers properly and serve the interests of the general public. O when markets are regulated by the government, there is no need for competition among business firms. when competition is present, businesses have a strong incentive to serve the general public and therefore there is little need for regulation of competitive markets. when competition is present, businesses have a strong incentive to serve the general public and therefore there is little need for regulation of competitive markets. D Question 2 1 pts Even-handed enforcement of contracts fuels economic prosperity because it O permits individuals to invade or infringe on the property rights of others. increases market uncertainty and the probability of contract violations. O . increases transaction costs