Consider the following statements when answering this question
I. When a competitive industry's supply curve is perfectly elastic, then the sole beneficiaries of a reduction in input prices are consumers.
II. Even in competitive markets firms have no incentives to control costs, as they can always on cost increases to consumers.
A) I and II are true.
B) I is true, and II is false.
C) I is false, and II is true.
D) I and II are false.

B) I is true, and II is false.

Explanation: A Competitive industry is an industry made up of firms that produce similar product or render similar services to the Consumers.

Perfectly elastic supply curve: This is a term used to describe a supply curve that changes at the slightest change in the price of goods produced and services rendered within an economy over a given period of time.

the earthquake in haiti was a magnitude of 7.0 according to the u.s geological survey yet the smaller earthquake in haiti killed more than 200,000 and left more than 1.2 million people homeless. the chile earthquake was a magnitude of 8.8 and 500 times more stronger but chile's earthquake only injured 712 people.

answer; participants attitudes about gun control;