What do free entry and exit refer to?
a. the ability of businesses to hire and fire staff as needed for rising and falling levels of production
b. the ability of businesses to begin or end production and sales according to profitability
c. the entry of mergers and exit of small producers common in perfectly competitive markets
d. the repetitive process of the rise and fall of demand in the marketplace?

the old way of life was represented by superstition, an angry god, and absolute submission to authority. the thinkers of the age of reason ushered in a new way of thinking. this new way championed the accomplishments of humankind. individuals did not have to accept despair. science and reason could bring happiness and progress. kings did not rule by divine right. they had an obligation to their subjects. europeans pondered the implications for nearly a century. americans put them into practice first.