The hypothesis that regulators eventually are controlled by the regulated firms and their special interests is the
A) share-the-gains, share-the-pains hypothesis.
B) capture hypothesis.
C) public interest theory.
D) control-group hypothesis.
B
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Shama is producing candles in a perfectly competitive market. When she produces 500 candles, her total cost is $250. If she produces one additional candle, her total cost increases to $260
In order to maximize her profit, she should produce the additional candle A) if the market price for a candle is $12. B) only if the market price exceeds $260 for a candle. C) only if the market price exceeds $250 for a candle. D) if the market price for a candle exceeds $0.50. E) if her price exceeds her average total cost.
How are the following events likely to affect an economy's production possibilities curve?
a. An increase in the working population of the economy b. The import of better production technology c. A natural disaster that destroys some of the economy's resources d. Emigration of workers to other countries
The larger the marginal rate of substitution, the larger is the amount of one good that the consumer is willing to give up in exchange for another good and still remain at the same level of satisfaction
Indicate whether the statement is true or false
If the demand for cream cheese produced by a dairy is perfectly elastic, then:
a. the demand curve will be vertical. b. the demand curve will be horizontal. c. the demand curve will be upward sloping. d. the demand curve will be downward sloping. e. the demand curve will initially slope upward and then slope upward.