In the Absence of a Generally Accepted and Enforced System

Multiple Choice

In the absence of a generally accepted and enforced system of fair competition legislation,which of the following is likely to occur?

A) All firms will join forces and form a cartel.
B) A cost-efficient firm will form a natural monopoly.
C) Consumers will likely enjoy prices that are below the cost of production.
D) Gangster capitalism.
E) All firms will charge the same price.