Which of the following refers to the capture hypothesis of regulation?
A) the ability of the government to capture monopoly profits
B) the control of regulatory agencies by firms in an industry
C) consumer cost savings captured through regulation
D) horizontal mergers
B
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Refer to Figure 11-11. For output rates greater than 20,000 picture frames per month
A) the firm will not make a profit because the average cost of production will be too high. B) the firm will experience diminishing returns. C) the short-run average total cost will equal the long-run average total cost of production. D) the firm will experience diseconomies of scale.
If choice architects frame choices in terms of social norms people will:
A. behave with the majority. B. be unaffected by what the majority is doing. C. behave in the opposite way, because "going rogue" is celebrated in our culture. D. behave according to how they view that norm.
Over the past 50 years, the amount given in aid has __________ in dollar terms, ___________ in terms of aid as a share of GDP.
A. increased; but has steadily fallen B. increased; as well as increased C. decreased; but has increased D. decreased; and has steadily fallen
Increasing concentration always means an industry has become effectively monopolized.
Answer the following statement true (T) or false (F)