All of the costs associated with regulation are borne by the firms being regulated.
Answer the following statement true (T) or false (F)
False
The costs of regulation are borne by the government, the firms being regulated, and consumers.
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Which of the following ideas describes the concept of "utilitarianism"? I. Utilitarianism gained popularity in the 1930s. II. Utilitarians believed that a society should use only competitive markets to allocate resources. III
Utilitarians claimed that taking money from rich people and giving it to poorer people would make the economy more fair. A) III only B) II only C) I and II D) I, II and III
Which of the following is illegal under the Sherman Act? I. A competitor agrees with another competitor on the price at which the product will be sold. II
A manufacturer refuses to supply a retailer who does not accept the manufacturer's guidance on the price. A) only I B) only II C) both I and II D) neither I nor II
In answer to the question, "Who manages?" the answer is:
a. Everyone does b. Some people do sometimes c. Some individuals rarely manage anything d. It depends, some people manage, others don't