The expected value of litigation is the expected value of the gain from litigation for the ________ and the expected value of the loss from the litigation for the ________.
A) defendant; plaintiff
B) plaintiff; defendant
C) defendant; defendant
D) plaintiff; plaintiff
B) plaintiff; defendant
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Suppose regulators impose a price ceiling on a monopoly. If the price ceiling is set too high
a. deadweight loss will be eliminated. b. deadweight loss will be reduced. c. deadweight loss will be increased. d. deadweight loss will not be affected.
Efficient solutions to solving externality problems:
A. are always supported by the government. B. increase surplus for everyone in society. C. are not always supported in political arenas. D. decrease surplus for everyone in society.
The largest component of state and local education spending is for
a. elementary and secondary education b. colleges and universities c. libraries d. research e. police protection
In Figure 32.1, at the market price-quantity combination where production is unlimited, and the government buys the excess, the consumer surplus is Image
A. P*AC. B. HP*C. C. HpfloorBG. D. APfloorB.