Use each of these terms in a sentence that reflects the term's meaning in the chapter. 11. theoretically 12. equate13. collude14. sustain15. restrained 16. intervention 19. Explain what happens when markets do not have enough competition. 20. Describe what is meant by externalities. 21. Explain why the private sector is reluctant to produce public goods. 22. Identify the purpose of antitrust legislation. 23. Explain how public disclosure is used as a tool to prevent market failures. 24. DescribethecharacteristicsthatmaketheU.S.economy a "modified free enterprise" economy. 25. Why does the federal government attempt to preserve competition among business enterprises? What different methods does the government have available for this task? 30. The table below shows the price, market demand, market supply, and the surplus and shortage for a firm providing a product under perfect competition. Study the information in the table, and then answer the question Price Market Market Surplus/ demand supply Shortage 10 600 1550 950 9 ---- 1500 780 8 850 1450 7 990 1400 6 1350 210 u 1300 0 4 1470 -220 3 1650 1200 2 1840 1150 -690 1. Some of the information is missing from the table. Calculate the correct information. 2. What is the equilibrium price? How can you tell? 3. What price(s) will produce a surplus? 4. What price(s) will produce a shortage