The public interest theory of government regulation is optimistic
Indicate whether the statement is true or false
T The public interest theory of government regulation assumes government officials will pursue and serve the public good, whereas they may pursue their own private goals that differ from public goals.
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A physician who laid off her nurse and receptionist and performed their tasks herself would probably
A) decrease her accounting profit but increase her economic profit. B) decrease her profit from the economist's point of view even if she increased her accounting profit. C) increase both her accounting and economic profit if her practice was a busy one. D) wind up with lower labor costs unless the layoff greatly increased the demand for her professional services. E) work more efficiently in order to get everything done.
Which of the following helps a monopoly perfectly price discriminate?
A) unit demand by each consumer B) the product is perishable C) the product is personalizable D) All of the above.
Two telephone networks that grant access so they can complete each others' calls will be motivated to set efficient prices
Indicate whether the statement is true or false
Free markets can
A. produce goods and services with maximum efficiency. B. permanently solve unemployment. C. completely protect the environment. D. All of these responses are correct.