If a shirt manufacturer has a surplus of two shirts when they're priced at $14 each and a shortage of two shirts at $10 each, market equilibrium is likely at

One primary reason why regulatory capture may occur in an industry is that:

A. The government designates unelected officials to head the various regulatory agencies of different industries B. There is a lot of bribery and corruption going on in all major industries that the government seeks to regulate C. The industry's leaders are the ones who pushed for the government to impose supervision and regulation over the industry D. People who are qualified to supervise and regulate the industry often come from the industry itself

Which of the following would be considered an economic function of government?

A. promoting competition B. providing a legal system C. providing public goods D. All of these are correct.