Duing the time of the Roman emperors, the term bread and circuses referred to C. free bread and entertainment for the poor. Many leaders at the time understood that in order to prevent the poor from rising up and attacking the elite lifestyle of the ruling class, they must be kept fed and entertained, which is why there are so many coliseums.
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In perfect competition, the prices depend on the supply and demand. in a monopolistic competition the prices are set above the marginal cost