Figure 18.3Refer to Figure 18.3. Livonia has a comparative advantage in the production of:
A. pogo sticks.
B. scooters.
C. both scooters and pogo sticks.
D. neither scooters nor pogo sticks.
Answer: A
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According to the capture hypothesis
A) regulators eventually support the views of consumers instead of the firms or the taxpayers, regardless of the reasons why the regulatory agency was established. B) regulators support the view of the regulated firms all along because that is the reason the regulatory agency was established. C) regulators eventually support the views of the regulated firms instead of the consumers or taxpayers, regardless of why the regulatory agency was established. D) regulators eventually support the views of either the firms or the consumers, but at the expense of the taxpayers, regardless of the reasons why the regulatory agency was established.
What is the main difference between economic regulation and social regulation?
What will be an ideal response?