Economists use the term regulatory capture to mean a situation where the private sector firms being regulated ?
A. Persuade the regulator to operate in the industry’s interests
B. Persuade the regulator to act in the firms interests.
C. Bribe the regulator.
D. Persuade the government to change the regulatory regime.
A. p = Z
B. P = MC + Z
C. p = MC
D. P = MC – Z
A. restrict; promote
B. restrict; restrict
C. promote; promote
D. promote; restrict
In the UK, electricity industry parts are a ____ and other parts are ___ ?
A. nationalized; privatized
B. natural monopoly; potentially competitive
C. cartel; a sellers’ market
D. monopolistic competition duopoly
Sales staff are keen to sell extended warranties because ?
A. extended warranties offer value for money.
B. the cost of repair will usually exceed the cost of the warranty
C. they are paid commission on each extended warranty they sell.
D. They are concerned about customer satisfaction.
A conglomerate merger is a merger of ?
A. firms producing the same product
B. firms at various stages in production process.
C. firm producing complementary products
D. firms producing unrelated products.