The theory that regulation helps producers to maximize profit is the
A) social interest theory.
B) consumer surplus theory.
C) antitrust theory.
D) capture theory.
E) oligopoly theory of regulatory bodies.
D
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Because wealth is more concentrated than income, the Gini coefficient for the wealth distribution is greater than the Gini coefficient for the income distribution.
Answer the following statement true (T) or false (F)
The optimal bidding strategy for an oral auction is
a. To shade your bid below your true value and drop out well before it is reached b. To shade your bid below your true value and drop out just when the shaded amount is reached c. To drop out when the bidding exceeds your true value d. To size up your competition to determine how much to shade your bid
Economic theory suggests that the standard of living of American workers would rise if
a. the minimum wage were doubled. b. technological setbacks lowered output per worker hour. c. the amount of physical capital increased. d. automation was outlawed.
The political attractiveness of tariffs, quotas, and other trade restrictions is primarily the result of
A) the political clout of foreigners. B) the special interest nature of trade restrictions. C) the political clout of domestic consumers. D) the attractiveness of sound economic policies to elected political officials.