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Question 11 According to the capture hypothesis of regulatio

Paper help Economics Question 11 According to the capture hypothesis of regulatio

Economics

Question 11 According to the capture hypothesis of regulatio

Question 11 According to the capture hypothesis of regulation, Question 11 options: … Show more Question 11 According to the capture hypothesis of regulation, Question 11 options: regulation benefits the consumers over producers because the number of consumers is greater than the number of producers, giving the consumers more political clout. regulation favors producers over consumers because the producers were able to pay off the regulators. regulation benefits the regulators and the legislators who support the regulation by enabling them to obtain favors from both producers and consumers. regulation eventually favors producers over consumers because the producers have more at stake than individual consumers. Question 12 The Supreme Court has defined the offense of monopolization to Question 12 options: be when only one firm exists in an industry. occur when asymmetric information exists. include the possession of monopoly power and the willful maintenance of that power. be unfair acts in the practice of commerce. Question 13 The primary measure of monopoly power used by the government is the Question 13 options: profitability of the leading firms in an industry. gap between price and marginal cost. percentage of a market controlled by the leading firms in the industry. gap between price and average total cost. Question 14 The purpose of social regulation is Question 14 options: to control the price that regulated enterprises are allowed to charge. to force a firm to produce at the point where marginal cost equals marginal revenue. to control the quality of service provided by a monopolist. to focus on the impact of production on the environment and society, the working conditions under which goods and services are produced, and sometimes the physical attributes of goods. Question 15 This agency is responsible for investigating complaints of discrimination based on race, religion, sex or age in hiring, promotion, firing, wages, testing, and all other conditions of employment. Question 15 options: Equal Employment Opportunity Commission Environmental Protection Agency Food and Drug Administration Federal Trade Commission Question 16 Behavior on the part of the firm that allows it to comply with the letter of the law but violate the spirit reducing the law’s effect is Question 16 options: the lemons problem. asymmetric information. creative response. only a problem in a monopoly. Question 17 Which of the following are exempt from the antitrust laws? Question 17 options: Labor unions Colleges and universities Deregulated industries All professional athletes Question 18 This agency is responsible for preventing businesses from engaging in misleading advertising, unfair trade practices, and monopolistic actions, as well as for protecting consumer rights. Question 18 options: Equal Employment Opportunity Commission Federal Trade Commission Environmental Protection Agency Food and Drug Administration Question 19 Commonwealth Edison is the only provider of electricity to many households in the Chicago area. Commonwealth Edison is regulated by the government. This type of regulation is known as Question 19 options: social regulation. the market share test. the Federal Register. economic regulation. Question 20 Government regulators prefer the average cost pricing method to marginal cost pricing approach because Question 20 options: firms are more likely to keep a record of average cost of production than to keep marginal cost. marginal cost pricing method is more likely to put the regulated firm out of business than average cost method can. It could entail more losses than the latter. both A and B are correct none of the above is correct • Show less

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