A command-and-control approach to government regulation works best when
A. markets can and will produce socially desirable economic outcomes.
B. there is significant agreement on the goals, but not on the best ways to achieve them.
C. there is significant agreement on the goals and the best ways to achieve them.
D. there is significant disagreement on the goals of government regulation.
Answer: C
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What is a dominant strategy?
What will be an ideal response?
A major computer software company maintains a technical support center in a rural area and is the only employer in this region
Suppose the firm develops a new software system for managing technical support calls, and the marginal product of labor increases. What happens to the equilibrium outcome in this labor market? A) Labor demand shifts rightward, equilibrium wage and employment levels decline B) Labor demand shifts rightward, equilibrium wage and employment levels increase C) Labor demand curve remains the same, equilibrium wage and employment levels increase D) Labor demand curve remains the same, equilibrium wage and employment do not change E) none of the above
Price discrimination leads to higher prices for all consumers
a. True b. False Indicate whether the statement is true or false