The hypothesis that regulators eventually are controlled by the regulated firms and their special interests is the
A) share-the-gains, share-the-pains hypothesis.
B) capture hypothesis.
C) public interest theory.
D) control-group hypothesis.
B
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The effect of trade on specialized employees of import-competing industries will be ________ jobs and ________ pay because they are relatively ________
A) fewer; lower; immobile B) fewer; lower; mobile C) more; lower; immobile D) more; higher; mobile E) more; higher; immobile
Price discrimination refers to:
A. selling a given product for different prices at two different points in time. B. any price above that which is equal to a minimum average total cost. C. the selling of a given product at different prices to different customers that do not reflect cost differences. D. the difference between the prices a purely competitive seller and a purely monopolistic seller would charge.