One undesirable effect of social regulation is that it
A. destroys incentives for firms to engage in marginal cost pricing.
B. raises prices of goods to consumers, while lowering prices to business and special interest groups.
C. reduces the effectiveness of economic regulation.
D. affects smaller firms disproportionately, creating anticompetitive effects.
Answer: D
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Workers in the United States are ________ workers in China because ________
A) more productive than; workers in the United States have more capital per worker. B) more productive than; there are more college-educated workers in the United States. C) less productive than; the labor force participation rate is lower in the United States. D) less productive than; there are fewer workers in the United States. E) equally as productive as; China's real GDP per person equals the U.S. real GDP per person.
For a perfectly competitive firm, in the long-run equilibrium
A) P = MC = ATC = MR. B) MR = MC = AFC. C) MR = P = ATC = AFC. D) P = MC > ATC.
It is possible for one person to have a comparative advantage in the production of all products?
a. True b. False
Real estate in San Francisco that sold for $16 before gold was discovered in California was valued at $4,500 eighteen months later, as a result of the gold rush
Indicate whether the statement is true or false