Acme Inc. found a tricky way to conform to the letter of the law with respect to new EPA regulations, even though they violated the spirit of the law. This is called
A. share-the-gains, share-the-pains theory.
B. collusive response.
C. creative response.
D. the capture theory.
Answer: C
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Which of the following is true regarding price discrimination?
i. It converts consumer surplus to economic profit. ii. A price discriminator must be a monopoly. iii. To be able to price discriminate, the firm must be able to identify different types of buyers. A) i and ii B) i and iii C) ii and iii D) ii only E) i, ii, and iii
The notion that technological change is not random but instead is driven by the pursuit of profits is an essential element of
A) classical growth theory. B) neoclassical growth theory. C) the new growth theory. D) perpetual growth theory.
A rational person may remain less than fully informed on an issue to be decided in an election
a. True b. False Indicate whether the statement is true or false
How does government expenditure discourage some private investment?