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Author Question: Government regulation is best applied in cases_____. a. where the marginal benefit of the ... (Read 170 times)

lbcchick

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on: Jul 1, 2018
Government regulation is best applied in cases_____.
 
  a. where the marginal benefit of the regulation is greater than the cost of the bureaucracy
  b. where imposed rules can increase efficiency more than govt. production would
  c. where the marginal benefit of regulation improves the cost efficiency of the producers
   d. where imposed rules can increase efficiency more than a public/private partnership would

Question 2

During the winter of 1997-1998, the northeastern United States experienced warmer than usual conditions. The price of home heating oil was less than it was during the previous winter, but people bought less home heating oil.
 
  This contradicts the Law of Demand. Indicate whether the statement is true or false


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fatboyy09

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Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

False. The statement claiming a contradiction confuses a change in quantity demanded with a change in the demand curve. The law of demand refers to movements along a given demand curve. The mild weather caused a leftward shift of the demand curve.


lbcchick

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

dantucker

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Reply 3 on: Yesterday
Gracias!

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