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.

apart from being against desegregation, governor of georgia eugene talmadge opposed as well to the work progress administration, an ambitious program of the "new deal" created by president franklin d. roosevelt to overcome the great depression after world war i. talmadge disagreed with welfare spending, job training and organized labor. according to his ideas, he thought the government was spending too much money on this, and he wasn't willing to accept a wage higher than georgia's lower average wage. besides, talmadge strongly opposed to the "new deal" as he thought it had communist ideas.

answer; reliable;